Tesla (NASDAQ:TSLA) Shares Down 0.5%

Tesla, Inc. (NASDAQ:TSLA) shares traded down 0.5% during trading on Friday . The company traded as low as $226.32 and last traded at $228.73. 19,580,113 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 96,590,000 shares. The stock had previously closed at $229.81.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 price target on shares of Tesla in a report on Monday. Glj Research reissued a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Thursday, September 5th. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. Wolfe Research initiated coverage on Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Truist Financial reaffirmed a “hold” rating and set a $215.00 target price on shares of Tesla in a report on Wednesday, August 14th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $209.60.

Tesla Price Performance

The stock has a 50-day moving average of $223.80 and a two-hundred day moving average of $194.45. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a market cap of $731.70 billion, a price-to-earnings ratio of 58.46, a price-to-earnings-growth ratio of 6.03 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. On average, analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Hedge funds have recently bought and sold shares of the stock. Bank & Trust Co bought a new stake in Tesla in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla during the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the 4th quarter worth about $37,000. Finally, Kessler Investment Group LLC lifted its holdings in shares of Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after acquiring an additional 51 shares during the period. 66.20% of the stock is owned by institutional investors.

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.