Tesla (NASDAQ:TSLA) Trading Down 0.3% - What's Next?

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shares were down 0.3% during mid-day trading on Monday . The stock traded as low as $238.88 and last traded at $248.11. Approximately 29,314,993 shares were traded during trading, a decline of 69% from the average daily volume of 93,862,039 shares. The stock had previously closed at $248.98.

Analyst Ratings Changes

Several research firms have recently issued reports on TSLA. Bank of America boosted their target price on Tesla from $255.00 to $265.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Jefferies Financial Group raised their price target on Tesla from $165.00 to $195.00 and gave the company a "hold" rating in a report on Monday, October 21st. Sanford C. Bernstein reissued an "underperform" rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Guggenheim increased their price objective on shares of Tesla from $153.00 to $156.00 and gave the company a "sell" rating in a research report on Thursday, October 24th. Finally, HSBC reaffirmed a "reduce" rating and issued a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $219.45.

Tesla Stock Down 2.5 %

The business has a 50 day moving average price of $234.73 and a 200 day moving average price of $211.81. 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 stock has a market cap of $779.53 billion, a PE ratio of 66.53, a P/E/G ratio of 8.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analysts' expectations of $25.47 billion. During the same quarter last year, the company earned $0.53 EPS. The business's revenue was up 7.8% on a year-over-year basis. Equities research analysts expect that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,297 shares of company stock worth $3,065,866. Company insiders own 20.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. Bank & Trust Co acquired a new position in shares of Tesla during the second quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC grew its position in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock valued at $26,000 after buying an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in Tesla during the 3rd quarter worth $29,000. Finally, Clean Yield Group boosted its stake in Tesla by 60.0% in the third 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 in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.