Tesla (NASDAQ:TSLA) Shares Gap Down to $241.03

Tesla, Inc. (NASDAQ:TSLA)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $241.03, but opened at $235.19. Tesla shares last traded at $243.89, with a volume of 21,048,533 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TSLA. Citigroup increased their price objective on shares of Tesla from $182.00 to $274.00 and gave the company a “neutral” rating in a research note on Friday. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a report on Wednesday, April 24th. Royal Bank of Canada decreased their price objective on Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. Jefferies Financial Group cut their target price on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Finally, Barclays lowered their price target on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $201.58.

Tesla Price Performance

The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $192.75 and its two-hundred day moving average price is $191.27. The stock has a market cap of $791.66 billion, a price-to-earnings ratio of 63.32, a price-to-earnings-growth ratio of 6.02 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Equities research analysts forecast that Tesla, Inc. will post 1.85 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC boosted its stake in shares of Tesla by 135.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,472 shares of the electric vehicle producer’s stock worth $4,341,000 after acquiring an additional 10,042 shares during the last quarter. Diversified Trust Co boosted its stake in Tesla by 9.9% during the 4th quarter. Diversified Trust Co now owns 38,569 shares of the electric vehicle producer’s stock worth $9,584,000 after purchasing an additional 3,471 shares during the last quarter. Fragasso Group Inc. grew its holdings in shares of Tesla by 6.4% during the fourth quarter. Fragasso Group Inc. now owns 1,891 shares of the electric vehicle producer’s stock worth $470,000 after buying an additional 113 shares in the last quarter. Arlington Financial Advisors LLC raised its position in shares of Tesla by 3.2% in the fourth quarter. Arlington Financial Advisors LLC now owns 17,380 shares of the electric vehicle producer’s stock valued at $4,319,000 after buying an additional 546 shares during the last quarter. Finally, Curated Wealth Partners LLC lifted its stake in shares of Tesla by 3.0% in the fourth quarter. Curated Wealth Partners LLC now owns 2,473 shares of the electric vehicle producer’s stock worth $614,000 after buying an additional 71 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.