Tesla, Inc. (NASDAQ:TSLA – Get Free Report)’s share price traded down 1.2% during mid-day trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $218.00 to $200.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Tesla traded as low as $175.70 and last traded at $177.68. 30,441,129 shares traded hands during trading, a decline of 70% from the average session volume of 101,827,852 shares. The stock had previously closed at $179.83.
Several other research analysts have also weighed in on TSLA. Jefferies Financial Group decreased their price objective on shares of Tesla from $225.00 to $185.00 and set a “hold” rating for the company in a report on Monday, January 29th. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Canaccord Genuity Group decreased their price objective on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $298.00 price target on shares of Tesla in a report on Wednesday. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $204.63.
Insider Transactions at Tesla
In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold a total of 198,598 shares of company stock worth $36,952,434 in the last 90 days. 20.90% of the stock is owned by insiders.
Institutional Trading of Tesla
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares during the last quarter. State Street Corp increased its stake in shares of Tesla by 4.4% in the second quarter. State Street Corp now owns 104,115,390 shares of the electric vehicle producer’s stock valued at $27,254,286,000 after buying an additional 4,431,570 shares during the period. Norges Bank acquired a new stake in Tesla during the 4th quarter valued at approximately $7,844,757,000. Morgan Stanley increased its position in Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. Finally, FMR LLC increased its position in Tesla by 0.9% during the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after purchasing an additional 269,182 shares during the period. Institutional investors own 66.20% of the company’s stock.
Tesla Price Performance
The firm has a market cap of $559.85 billion, a price-to-earnings ratio of 40.79, a P/E/G ratio of 4.01 and a beta of 2.41. The business’s 50-day simple moving average is $187.78 and its two-hundred day simple moving average is $222.06. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business earned $1.07 EPS. As a group, research analysts expect that Tesla, Inc. will post 2.44 EPS for the current fiscal year.
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.