Tesla (NASDAQ:TSLA) Issues Quarterly Earnings Results

Tesla (NASDAQ:TSLA - Get Free Report) posted its quarterly earnings results on Tuesday. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26), RTT News reports. Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the firm earned $0.45 EPS.

Tesla Trading Up 4.9 %

NASDAQ:TSLA opened at $249.55 on Wednesday. Tesla has a 52-week low of $141.11 and a 52-week high of $488.54. The company has a market capitalization of $802.69 billion, a PE ratio of 121.08, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $269.39 and a 200-day simple moving average of $322.54.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TSLA shares. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Wednesday. Bank of America dropped their price objective on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lowered their target price on shares of Tesla from $135.00 to $120.00 and set an "underweight" rating for the company in a research note on Wednesday, March 12th. BNP Paribas set a $137.00 price target on Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Finally, Piper Sandler restated an "overweight" rating on shares of Tesla in a research note on Tuesday. Ten analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $285.91.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares of the company's stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 374,228 shares of company stock valued at $123,791,123 in the last ninety days. Corporate insiders own 20.70% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Tesla stock. Revolve Wealth Partners LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,317 shares of the electric vehicle producer's stock after purchasing an additional 931 shares during the quarter. Revolve Wealth Partners LLC's holdings in Tesla were worth $2,147,000 at the end of the most recent 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.