Tesla (NASDAQ:TSLA) Trading Down 1.1% - What's Next?

Key Points

• Tesla's stock price decreased by 1.1% to close at $304.91, with trading volume down 68% from its average.
• Analysts have mixed views on Tesla, with Goldman Sachs lowering its target price from $315 to $285, while Bank of America increased it from $305 to $341.
• Tesla reported a net margin of 6.54% and revenue of $22.50 billion for the last quarter, missing analysts’ expectations.

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price was down 1.1% on Friday . The company traded as low as $297.82 and last traded at $304.91. Approximately 34,416,061 shares changed hands during trading, a decline of 68% from the average daily volume of 107,515,805 shares. The stock had previously closed at $308.27.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TSLA shares. The Goldman Sachs Group dropped their target price on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. China Renaissance reissued a "hold" rating and issued a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a research note on Tuesday. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Finally, Bank of America raised their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $303.31.

Tesla Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm's 50 day moving average is $322.96 and its 200-day moving average is $312.48. The stock has a market capitalization of $980.13 billion, a price-to-earnings ratio of 175.27, a PEG ratio of 11.21 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The business's revenue for the quarter was down 11.8% on a year-over-year basis. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the business'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 completion of the sale, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. 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 112,395 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director owned 85,000 shares of the company's stock, valued at $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 719,119 shares of company stock worth $246,186,549. Insiders own 20.70% of the company's stock.

Hedge Funds Weigh In On Tesla

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. FMR LLC grew its holdings in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Tesla by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock worth $9,908,828,000 after buying an additional 158,697 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.

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