Tesla (NASDAQ:TSLA) Trading Down 1.5%

Tesla, Inc. (NASDAQ:TSLA)’s stock price dropped 1.5% during trading on Monday . The company traded as low as $194.67 and last traded at $197.03. Approximately 23,141,666 shares traded hands during trading, a decline of 77% from the average daily volume of 99,522,688 shares. The stock had previously closed at $200.00.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Royal Bank of Canada dropped their price target on Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Finally, Truist Financial lifted their price target on shares of Tesla from $162.00 to $215.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $204.21.

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 company has a market cap of $630.28 billion, a PE ratio of 50.26, a P/E/G ratio of 5.18 and a beta of 2.31. The firm’s 50-day simple moving average is $212.04 and its two-hundred day simple moving average is $190.28.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TSLA. Paces Ferry Wealth Advisors LLC boosted its position in Tesla by 8.4% during the second quarter. Paces Ferry Wealth Advisors LLC now owns 4,370 shares of the electric vehicle producer’s stock worth $865,000 after purchasing an additional 340 shares in the last quarter. Sienna Gestion lifted its position in shares of Tesla by 0.6% during the 2nd quarter. Sienna Gestion now owns 68,542 shares of the electric vehicle producer’s stock valued at $13,557,000 after buying an additional 405 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Tesla in the 2nd quarter valued at $1,680,000. Kooman & Associates purchased a new stake in Tesla in the 2nd quarter worth $230,000. Finally, Waterloo Capital L.P. raised its position in Tesla by 25.0% during the second quarter. Waterloo Capital L.P. now owns 9,700 shares of the electric vehicle producer’s stock worth $1,919,000 after acquiring an additional 1,942 shares during the period. 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.