Traders Sell Tesla Inc. (TSLA) on Strength (TSLA)
Traders sold shares of Tesla Inc. (NASDAQ:TSLA) on strength during trading on Thursday. $402.28 million flowed into the stock on the tick-up and $431.01 million flowed out of the stock on the tick-down, for a money net flow of $28.73 million out of the stock. Of all equities tracked, Tesla had the 22nd highest net out-flow for the day. Tesla traded up $1.08 for the day and closed at $355.68
Several equities analysts have recently commented on the company. Morgan Stanley raised their price target on Tesla from $317.00 to $379.00 and gave the company an “equal weight” rating in a research note on Monday. Guggenheim restated a “buy” rating and set a $430.00 price target on shares of Tesla in a research note on Friday, October 6th. Standpoint Research lowered Tesla from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Instinet assumed coverage on Tesla in a research note on Wednesday, October 4th. They set a “buy” rating and a $500.00 price target on the stock. Finally, Nomura assumed coverage on Tesla in a research note on Wednesday, October 4th. They set a “buy” rating and a $500.00 price target on the stock. Ten analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the company. Tesla has an average rating of “Hold” and a consensus price target of $326.94.
The stock’s market capitalization is $59.36 billion. The company has a 50 day moving average of $355.03 and a 200 day moving average of $336.80.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.00) by $0.67. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business’s revenue for the quarter was up 119.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.06) earnings per share. On average, equities analysts predict that Tesla Inc. will post ($6.41) EPS for the current fiscal year.
In related news, VP Eric Branderiz sold 99 shares of Tesla stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total value of $34,661.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $341.69, for a total value of $748,301.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,446 shares of company stock valued at $17,504,929. Company insiders own 23.10% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can boosted its holdings in Tesla by 2.7% in the second quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock valued at $25,129,000 after acquiring an additional 1,802 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in Tesla by 0.9% in the first quarter. Perigon Wealth Management LLC now owns 8,025 shares of the electric vehicle producer’s stock valued at $2,233,000 after acquiring an additional 74 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Tesla by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock valued at $1,651,654,000 after acquiring an additional 280,941 shares during the last quarter. Main Street Research LLC acquired a new position in Tesla in the second quarter valued at $602,000. Finally, CIBC World Markets Inc. boosted its holdings in Tesla by 74.2% in the second quarter. CIBC World Markets Inc. now owns 10,575 shares of the electric vehicle producer’s stock valued at $3,824,000 after acquiring an additional 4,504 shares during the last quarter. Hedge funds and other institutional investors own 56.63% of the company’s stock.
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Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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