Investors Sell Tesla Motors Inc. (TSLA) on Strength on Analyst Downgrade
Traders sold shares of Tesla Motors Inc. (NASDAQ:TSLA) on strength during trading on Thursday after Morgan Stanley lowered their price target on the stock from $242.00 to $50.00. $259.13 million flowed into the stock on the tick-up and $285.84 million flowed out of the stock on the tick-down, for a money net flow of $26.71 million out of the stock. Of all stocks tracked, Tesla Motors had the 18th highest net out-flow for the day. Tesla Motors traded up $1.97 for the day and closed at $193.14
Several other research firms have also commented on TSLA. Piper Jaffray Cos. reiterated a “hold” rating and issued a $223.00 target price on shares of Tesla Motors in a research note on Thursday, October 27th. Evercore ISI restated a “buy” rating and set a $320.00 price target on shares of Tesla Motors in a research note on Thursday, October 27th. Pacific Crest restated a “hold” rating on shares of Tesla Motors in a research note on Wednesday, September 28th. Vetr upgraded Tesla Motors from a “hold” rating to a “buy” rating and set a $212.01 price target for the company in a research note on Thursday, October 6th. Finally, Robert W. Baird restated an “outperform” rating and set a $338.00 price target on shares of Tesla Motors in a research note on Wednesday, August 10th. Eight analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $241.79.
In related news, Director Kimbal Musk sold 2,779 shares of Tesla Motors stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $197.60, for a total transaction of $549,130.40. Following the completion of the sale, the director now owns 154,644 shares of the company’s stock, valued at $30,557,654.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 27.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its position in Tesla Motors by 14.5% in the third quarter. Advisory Services Network LLC now owns 489 shares of the electric vehicle producer’s stock valued at $100,000 after buying an additional 62 shares during the period. Reilly Financial Advisors LLC raised its position in Tesla Motors by 92.9% in the third quarter. Reilly Financial Advisors LLC now owns 492 shares of the electric vehicle producer’s stock valued at $100,000 after buying an additional 237 shares during the period. Trust Co. of Vermont raised its position in Tesla Motors by 21.6% in the second quarter. Trust Co. of Vermont now owns 535 shares of the electric vehicle producer’s stock valued at $114,000 after buying an additional 95 shares during the period. Toronto Dominion Bank raised its position in Tesla Motors by 171.5% in the second quarter. Toronto Dominion Bank now owns 544 shares of the electric vehicle producer’s stock valued at $115,000 after buying an additional 1,305 shares during the period. Finally, Proficio Capital Partners LLC raised its position in Tesla Motors by 56.1% in the second quarter. Proficio Capital Partners LLC now owns 501 shares of the electric vehicle producer’s stock valued at $116,000 after buying an additional 180 shares during the period. 64.36% of the stock is owned by hedge funds and other institutional investors.
The company’s market cap is $28.95 billion. The firm’s 50-day moving average is $194.74 and its 200-day moving average is $210.35.
Tesla Motors (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 26th. The electric vehicle producer reported $0.71 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.25. The company earned $2.30 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Tesla Motors had a negative net margin of 14.74% and a negative return on equity of 29.17%. The business’s revenue for the quarter was up 145.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.58) EPS. Equities research analysts anticipate that Tesla Motors Inc. will post ($2.04) EPS for the current year.
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Tesla Motors Company Profile
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
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