Tesla (NASDAQ:TSLA) Trading Up 0.6%

Tesla, Inc. (NASDAQ:TSLA)’s share price traded up 0.6% during trading on Wednesday . The company traded as high as $224.66 and last traded at $222.49. 29,851,158 shares changed hands during trading, a decline of 70% from the average session volume of 98,562,625 shares. The stock had previously closed at $221.10.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Piper Sandler reissued an “overweight” rating and set a $300.00 price objective on shares of Tesla in a research report on Monday. Truist Financial reissued a “hold” rating and set a $215.00 price objective on shares of Tesla in a research report on Wednesday, August 14th. Citigroup lowered their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Robert W. Baird reissued an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Tuesday. Finally, Royal Bank of Canada lowered their price objective on Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $204.21.

Tesla Price Performance

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 company has a 50 day moving average price of $217.13 and a 200 day moving average price of $191.47. The firm has a market cap of $711.25 billion, a PE ratio of 56.76, a PEG ratio of 5.60 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter last year, the company earned $0.78 EPS. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts expect that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction 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 transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

Several large investors have recently bought and sold shares of the company. Integris Wealth Management LLC grew its holdings in Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares during the last quarter. Echo Wealth Management LLC grew its holdings in Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after purchasing an additional 44 shares during the last quarter. WASHINGTON TRUST Co grew its holdings in Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after purchasing an additional 45 shares during the last quarter. Bellevue Asset Management LLC grew its holdings in Tesla by 1.6% in the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares during the last quarter. Finally, Cypress Capital Group boosted its stake in shares of Tesla by 1.7% during the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after acquiring an additional 47 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.