Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price fell 2% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $320.12 and last traded at $322.51. 23,978,306 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 100,476,541 shares. The stock had previously closed at $329.13.
Specifically, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.
Analyst Ratings Changes
Several brokerages have weighed in on TSLA. Raymond James cut shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Royal Bank of Canada decreased their price target on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group lowered their price objective on Tesla from $295.00 to $285.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research note on Friday, June 6th. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of "Hold" and an average price target of $293.67.
Check Out Our Latest Analysis on TSLA
Tesla Price Performance
The firm's 50 day moving average price is $301.53 and its two-hundred day moving average price is $332.77. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market cap of $1.04 trillion, a PE ratio of 158.18, a P/E/G ratio of 5.86 and a beta of 2.47.
Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the firm earned $0.45 EPS. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Geode Capital Management LLC raised its position in Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares in the last quarter. Norges Bank bought a new stake in Tesla during the fourth quarter worth about $14,420,248,000. FMR LLC boosted its holdings in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. 66.20% of the stock is 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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