Tesla, Inc. (NASDAQ:TSLA - Get Free Report) fell 0% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $258.78 and last traded at $262.46. 27,733,982 shares traded hands during trading, a decline of 71% from the average session volume of 94,425,992 shares. The stock had previously closed at $262.51.
Specifically, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Analyst Upgrades and Downgrades
Several research firms have weighed in on TSLA. Sanford C. Bernstein reiterated an "underperform" rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Royal Bank of Canada boosted their price target on Tesla from $236.00 to $249.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. UBS Group lowered Tesla from a "neutral" rating to a "sell" rating and boosted their price target for the company from $147.00 to $197.00 in a report on Friday, July 12th. China Renaissance upgraded Tesla from a "hold" rating to a "buy" rating and set a $290.00 price target on the stock in a report on Friday, July 5th. Finally, Wells Fargo & Company boosted their price target on Tesla from $120.00 to $125.00 and gave the company an "underweight" rating in a report on Thursday, October 24th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $219.45.
View Our Latest Stock Report on TSLA
Tesla Trading Down 1.1 %
The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $833.07 billion, a P/E ratio of 71.10, a PEG ratio of 7.59 and a beta of 2.29. The firm has a 50 day moving average of $231.33 and a 200-day moving average of $208.54.
Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to analysts' expectations of $25.47 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The company's quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Tesla
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank & Trust Co bought a new stake in Tesla during the second quarter worth $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla during the second quarter worth $26,000. Abich Financial Wealth Management LLC lifted its stake in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Clean Yield Group lifted its stake in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. boosted its holdings in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer's stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.
About Tesla
(
Get Free Report)
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.
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