Tesla (NASDAQ:TSLA) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Tesla (NASDAQ:TSLA - Get Free Report) posted its quarterly earnings results on Wednesday. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03), Briefing.com reports. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $10.76 during mid-day trading on Friday, hitting $316.06. 147,437,834 shares of the company's stock traded hands, compared to its average volume of 90,285,424. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.54. Tesla has a 1 year low of $182.00 and a 1 year high of $488.54. The company's 50-day moving average is $324.70 and its two-hundred day moving average is $314.09. The company has a market capitalization of $1.02 trillion, a P/E ratio of 182.69, a PEG ratio of 12.00 and a beta of 2.39.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Roth Mkm lowered their target price on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. Mizuho reduced their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. BNP Paribas set a $137.00 price target on Tesla and gave the stock an "underperform" rating in a research report on Wednesday, April 16th. Finally, China Renaissance restated a "hold" rating and set a $349.00 price objective on shares of Tesla in a research note on Friday. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $302.75.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock valued at $279,420,485 in the last quarter. 20.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Bison Wealth LLC raised its position in Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after purchasing an additional 3,558 shares during the period. Finally, Revolve Wealth Partners LLC lifted its stake in Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares during the last quarter. 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.