Tesla (NASDAQ:TSLA) Trading Down 1.2% – Here’s Why

Tesla, Inc. (NASDAQ:TSLA) was down 1.2% on Thursday . The stock traded as low as $244.44 and last traded at $245.96. Approximately 22,320,133 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 95,294,188 shares. The stock had previously closed at $249.02.

Analyst Upgrades and Downgrades

Several analysts have commented on TSLA shares. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a report on Friday, July 5th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Wedbush reiterated an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Argus reissued a “buy” rating and set a $286.00 price objective on shares of Tesla in a research report on Friday, July 26th. Finally, Piper Sandler upped their target price on shares of Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $210.54.

Tesla Trading Up 3.9 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The business has a 50-day moving average price of $224.00 and a two-hundred day moving average price of $201.39. The firm has a market cap of $798.92 billion, a PE ratio of 63.80, a PEG ratio of 6.79 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the company posted $0.78 EPS. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 1.74 EPS for the current year.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

Several large investors have recently added to or reduced their stakes in the stock. Clean Energy Transition LLP raised its holdings in shares of Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC lifted its position in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Tesla by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after purchasing an additional 1,479,378 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

About Tesla

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.