Tesla (NASDAQ:TSLA) Stock Price Down 1%

Tesla, Inc. (NASDAQ:TSLA) fell 1% during mid-day trading on Wednesday . The company traded as low as $197.17 and last traded at $198.68. 24,402,535 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 100,217,969 shares. The stock had previously closed at $200.64.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Tesla from $205.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 target price on shares of Tesla in a research report on Thursday, August 1st. The Goldman Sachs Group decreased their price objective on Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a report on Friday, July 5th. Finally, Royal Bank of Canada decreased their target price on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $204.30.

Tesla Stock Performance

The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $615.39 billion, a PE ratio of 50.19, a price-to-earnings-growth ratio of 5.37 and a beta of 2.31. The firm’s fifty day moving average is $210.88 and its 200-day moving average is $190.53.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Tesla, Inc. will post 1.79 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lam Group Inc. purchased a new position in shares of Tesla in the 4th quarter valued at about $25,000. Bank & Trust Co purchased a new position in Tesla in the second quarter valued at approximately $25,000. OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla during the 4th quarter worth approximately $37,000. Kessler Investment Group LLC increased its position in shares of Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares in the last quarter. Finally, Aspect Partners LLC lifted its stake in Tesla by 121.3% in the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after buying an additional 114 shares during the last quarter. 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.