Tesla (NASDAQ:TSLA) Trading Down 1.4% - Here's What Happened

Key Points

• Tesla's stock price fell 1.4% to close at $429.83, with a trading volume significantly higher than the average.
• Analysts have mixed ratings for Tesla, with a new target price of $548.00 from Robert W. Baird, while the consensus rating remains a "Hold" with an average target price of $343.43.
• The company reported a net margin of 6.54% and a revenue decrease of 11.8% year-over-year in its latest earnings report.

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price fell 1.4% on Friday . The company traded as low as $416.58 and last traded at $429.83. 132,291,301 shares were traded during trading, an increase of 28% from the average session volume of 103,195,063 shares. The stock had previously closed at $436.00.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TSLA. Glj Research reissued a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Mizuho increased their price target on Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 23rd. China Renaissance reiterated a "hold" rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Finally, Robert W. Baird raised Tesla from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $343.43.

Tesla Trading Down 1.4%

The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 248.46, a PEG ratio of 15.15 and a beta of 2.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average of $364.02 and a 200 day moving average of $321.39.

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

Insider Activity

In other news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. This represents a 40.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Cherry Tree Wealth Management LLC grew 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 valued at $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank grew its stake in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Chapman Financial Group LLC purchased a new position in Tesla in the second quarter valued at about $26,000. Newton One Investments LLC grew its stake in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new position in Tesla in the first quarter valued at about $27,000. 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.

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