Tesla (NASDAQ:TSLA) Shares Down 1% – Here’s What Happened

Tesla, Inc. (NASDAQ:TSLA)’s share price was down 1% during trading on Friday . The company traded as low as $383.76 and last traded at $391.09. Approximately 99,553,044 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 100,568,008 shares. The stock had previously closed at $395.23.

Analyst Ratings Changes

A number of equities analysts have commented on TSLA shares. UBS Group reissued a “sell” rating on shares of Tesla in a report on Friday, November 7th. Mizuho upped their price objective on shares of Tesla from $450.00 to $485.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $500.00 target price on shares of Tesla in a research note on Thursday, October 23rd. New Street Research raised their price objective on Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, William Blair reissued a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $394.31.

Tesla Stock Performance

The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.30 trillion, a price-to-earnings ratio of 260.73, a PEG ratio of 16.84 and a beta of 2.06. The stock’s 50 day moving average is $433.65 and its two-hundred day moving average is $363.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same period last year, the business posted $0.72 EPS. The company’s revenue was up 11.6% on a year-over-year basis. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 202,606 shares of company stock valued at $75,588,902 over the last quarter. Corporate insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Large investors have recently added to or reduced their stakes in the company. Turning Point Benefit Group Inc. bought a new stake in Tesla in the third quarter valued at $30,000. Manning & Napier Advisors LLC acquired a new stake in Tesla in the third quarter worth approximately $29,000. Texas Capital Bancshares Inc TX bought a new position in Tesla during the 3rd quarter valued at $31,000. Westend Capital Management LLC acquired a new position in shares of Tesla during the 3rd quarter valued at $32,000. Finally, Chapman Financial Group LLC bought a new stake in shares of Tesla in the 2nd quarter worth $26,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Company Profile

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.