Tesla (NASDAQ:TSLA) Stock Price Down 1.2%

Tesla, Inc. (NASDAQ:TSLA) shares fell 1.2% during mid-day trading on Tuesday . The stock traded as low as $247.70 and last traded at $248.59. 32,600,891 shares changed hands during trading, a decline of 67% from the average session volume of 100,199,336 shares. The stock had previously closed at $251.51.

Analyst Ratings Changes

TSLA has been the subject of a number of research reports. Roth Mkm restated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Wednesday, April 24th. Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Wednesday, April 24th. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and increased their price objective for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Guggenheim reissued a “sell” rating and set a $134.00 target price on shares of Tesla in a research note on Tuesday. Finally, Barclays increased their price target on Tesla from $180.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 17th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $197.46.

Tesla Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The company has a market capitalization of $789.93 billion, a PE ratio of 63.42, a P/E/G ratio of 5.97 and a beta of 2.31. The company’s 50-day simple moving average is $201.71 and its 200-day simple moving average is $190.94.

Tesla (NASDAQ:TSLA) last released 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. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.85 earnings per share for the current year.

Insider Buying and Selling at Tesla

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

Hedge Funds Weigh In On Tesla

Large investors have recently made changes to their positions in the stock. Lam Group Inc. purchased a new position in Tesla in the fourth quarter valued at about $25,000. Bank & Trust Co acquired a new stake in shares of Tesla in the 2nd quarter worth approximately $25,000. Mendota Financial Group LLC increased its stake in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new position in Tesla during the fourth quarter worth $37,000. Finally, Kessler Investment Group LLC boosted its position in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors 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.