Tesla (NASDAQ:TSLA) Rating Lowered to "Market Perform" at William Blair

Tesla (NASDAQ:TSLA - Get Free Report) was downgraded by investment analysts at William Blair from an "outperform" rating to a "market perform" rating in a research note issued to investors on Monday, MarketBeat Ratings reports.

A number of other equities research analysts also recently commented on TSLA. Guggenheim reaffirmed a "sell" rating and set a $175.00 target price on shares of Tesla in a report on Monday, June 23rd. Raymond James Financial downgraded Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $301.60.

Tesla Stock Down 6.5%

Shares of TSLA stock traded down $20.56 on Monday, hitting $294.80. The stock had a trading volume of 32,266,462 shares, compared to its average volume of 100,702,661. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $320.93 and a 200 day moving average price of $324.35. The company has a market cap of $949.52 billion, a PE ratio of 161.34, a P/E/G ratio of 9.17 and a beta of 2.39. Tesla has a one year low of $182.00 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter last year, the firm earned $0.45 EPS. Research analysts anticipate that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred 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 sale, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. This trade represents a 75.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 829,509 shares of company stock worth $277,648,925 over the last three months. Company insiders own 20.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Cherry Tree Wealth Management LLC increased its holdings in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank increased its holdings in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC increased its holdings in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla during the 1st quarter worth approximately $27,000. Finally, True Wealth Design LLC increased its holdings in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 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.