Shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) gapped down before the market opened on Friday after Guggenheim downgraded the stock from a neutral rating to a sell rating. The stock had previously closed at $123.56, but opened at $116.99. Tesla shares last traded at $116.11, with a volume of 942,925 shares trading hands.
Several other equities analysts have also recently weighed in on the stock. Wolfe Research lowered their price objective on shares of Tesla from $360.00 to $288.00 and set an “outperform” rating on the stock in a research note on Thursday, October 20th. Citigroup lowered their price objective on shares of Tesla from $176.00 to $140.00 in a research note on Friday. Evercore ISI lowered their price objective on shares of Tesla from $300.00 to $200.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 20th. Wedbush lowered their price objective on shares of Tesla from $250.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, December 23rd. Finally, Roth Capital raised their target price on shares of Tesla from $83.33 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, October 20th. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $229.07.
Insider Buying and Selling
In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total value of $2,414,475.00. Following the completion of the sale, the senior vice president now directly owns 62,988 shares in the company, valued at $14,484,090.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the completion of the sale, the senior vice president now directly owns 62,988 shares in the company, valued at $14,484,090.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Zachary Kirkhorn sold 3,752 shares of Tesla stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $109.31, for a total value of $410,131.12. Following the sale, the chief financial officer now owns 200,411 shares of the company’s stock, valued at $21,906,926.41. The disclosure for this sale can be found here. Insiders sold a total of 24,172,833 shares of company stock worth $4,492,567,309 over the last three months. 25.10% of the stock is owned by insiders.
Institutional Trading of Tesla
Institutional investors and hedge funds have recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. grew its stake in Tesla by 0.6% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,761 shares of the electric vehicle producer’s stock valued at $1,186,000 after purchasing an additional 11 shares during the last quarter. Advisor OS LLC grew its stake in Tesla by 2.4% in the second quarter. Advisor OS LLC now owns 510 shares of the electric vehicle producer’s stock valued at $344,000 after purchasing an additional 12 shares during the last quarter. Alera Investment Advisors LLC grew its stake in shares of Tesla by 1.4% during the second quarter. Alera Investment Advisors LLC now owns 852 shares of the electric vehicle producer’s stock worth $574,000 after acquiring an additional 12 shares during the last quarter. Stanley Laman Group Ltd. grew its stake in shares of Tesla by 4.0% during the second quarter. Stanley Laman Group Ltd. now owns 314 shares of the electric vehicle producer’s stock worth $211,000 after acquiring an additional 12 shares during the last quarter. Finally, Trust Co. of Toledo NA OH grew its stake in shares of Tesla by 1.2% during the second quarter. Trust Co. of Toledo NA OH now owns 1,004 shares of the electric vehicle producer’s stock worth $676,000 after acquiring an additional 12 shares during the last quarter. 43.00% of the stock is currently owned by institutional investors.
Tesla Price Performance
The firm has a market cap of $371.48 billion, a PE ratio of 38.18, a price-to-earnings-growth ratio of 0.93 and a beta of 2.02. The company has a quick ratio of 1.04, a current ratio of 1.46 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $158.61 and a two-hundred day moving average price of $226.32.
Tesla (NASDAQ:TSLA – Get Rating) last issued its quarterly earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The business had revenue of $21.45 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The company’s revenue was up 55.9% on a year-over-year basis. As a group, equities analysts expect that Tesla, Inc. will post 3.6 earnings per share for the current 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.