Tesla (NASDAQ:TSLA) Stock Price Down 0.1%

Tesla, Inc. (NASDAQ:TSLA)’s share price dropped 0.1% during mid-day trading on Monday . The company traded as low as $244.57 and last traded at $251.16. Approximately 38,178,875 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 97,062,109 shares. The stock had previously closed at $251.52.

Analyst Ratings Changes

TSLA has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their target price on shares of Tesla from $175.00 to $248.00 and gave the company a “neutral” rating in a report on Wednesday. Evercore ISI lowered their target price on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, April 29th. Roth Mkm restated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a report on Wednesday, April 24th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Monday, June 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Seven analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $195.39.

Tesla Stock Performance

The stock’s 50-day moving average price is $188.52 and its 200-day moving average price is $190.90. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $839.59 billion, a P/E ratio of 67.65, a P/E/G ratio of 6.27 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. As a group, equities analysts expect that Tesla, Inc. will post 1.86 EPS for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The shares were 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 of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several large investors have recently bought and sold shares of TSLA. Norges Bank acquired a new position in Tesla during the 4th quarter valued at about $7,844,757,000. International Assets Investment Management LLC increased its stake in Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after buying an additional 6,179,032 shares during the period. Vanguard Group Inc. grew its stake in shares of Tesla by 1.7% in the 4th 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 during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Tesla by 2,101.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.