Tesla (NASDAQ:TSLA) Trading Down 1.8% After Earnings Miss

Tesla, Inc. (NASDAQ:TSLA)’s stock price traded down 1.8% during trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $390.65 and last traded at $390.86. 14,591,859 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 70,774,664 shares. The stock had previously closed at $398.09.

The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.54%.

Analyst Ratings Changes

TSLA has been the topic of a number of analyst reports. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Wedbush increased their price target on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. UBS Group lifted their price objective on shares of Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a report on Thursday. Finally, Robert W. Baird lowered their target price on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $318.31.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $31,548,461.84. This represents a 7.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 553,386 shares of company stock valued at $196,305,796 in the last three months. Company insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC increased its stake in shares of Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares in the last quarter. Strategic Financial Concepts LLC increased its position in Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after buying an additional 8,637,195 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after buying an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after acquiring an additional 2,511,488 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 4.0 %

The firm has a 50-day moving average price of $403.18 and a 200-day moving average price of $297.99. The stock has a market cap of $1.34 trillion, a PE ratio of 203.96, a price-to-earnings-growth ratio of 8.08 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

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.