Traders Sell Tesla Inc. (TSLA) on Strength (TSLA)
Traders sold shares of Tesla Inc. (NASDAQ:TSLA) on strength during trading on Wednesday. $320.57 million flowed into the stock on the tick-up and $353.85 million flowed out of the stock on the tick-down, for a money net flow of $33.28 million out of the stock. Of all companies tracked, Tesla had the 27th highest net out-flow for the day. Tesla traded up $0.58 for the day and closed at $362.91
TSLA has been the topic of several research reports. Vetr upgraded Tesla from a “buy” rating to a “strong-buy” rating and set a $374.78 price target on the stock in a research report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $180.00 price target (down from $190.00) on shares of Tesla in a research report on Monday, July 31st. Bank of America Corporation dropped their price target on Tesla from $170.00 to $165.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 26th. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the company a “neutral” rating in a research report on Thursday, July 27th. Finally, Morgan Stanley restated an “overweight” rating and set a $305.00 price target on shares of Tesla in a research report on Wednesday, April 26th. Eight investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company. Tesla has an average rating of “Hold” and an average price target of $310.34.
The stock’s 50 day moving average is $340.15 and its 200-day moving average is $309.81. The company’s market capitalization is $60.56 billion.
Tesla (NASDAQ:TSLA) last posted its earnings results 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. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the firm earned ($1.06) EPS. The company’s quarterly revenue was up 119.6% on a year-over-year basis. On average, equities research analysts expect that Tesla Inc. will post ($6.34) EPS for the current fiscal year.
In related news, Director Kimbal Musk sold 4,690 shares of Tesla stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $367.68, for a total value of $1,724,419.20. Following the sale, the director now directly owns 166,164 shares in the company, valued at approximately $61,095,179.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 23.10% of the company’s stock.
A number of large investors have recently bought and sold shares of TSLA. Crestwood Advisors Group LLC purchased a new stake in Tesla during the first quarter valued at about $101,000. Pittenger & Anderson Inc. boosted its stake in Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after buying an additional 50 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock valued at $109,000 after buying an additional 364 shares during the last quarter. Winfield Associates Inc. boosted its stake in Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after buying an additional 150 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in Tesla during the first quarter valued at about $122,000. Institutional investors own 62.92% of the company’s stock.
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Tesla Company Profile
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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