Traders Buy Shares of Tesla (TSLA) on Weakness

Traders purchased shares of Tesla Inc (NASDAQ:TSLA) on weakness during trading hours on Wednesday. $378.68 million flowed into the stock on the tick-up and $359.67 million flowed out of the stock on the tick-down, for a money net flow of $19.01 million into the stock. Of all companies tracked, Tesla had the 12th highest net in-flow for the day. Tesla traded down ($1.35) for the day and closed at $322.31

TSLA has been the topic of several analyst reports. Robert W. Baird reiterated a “buy” rating and issued a $411.00 target price on shares of Tesla in a research note on Wednesday, October 25th. Nomura reiterated a “buy” rating and issued a $500.00 target price on shares of Tesla in a research note on Tuesday, October 31st. Piper Jaffray Companies reiterated a “buy” rating and issued a $362.00 target price on shares of Tesla in a research note on Friday, November 3rd. Global Equities Research reiterated a “buy” rating and issued a $485.00 target price on shares of Tesla in a research note on Wednesday, November 29th. Finally, Vetr upgraded Tesla from a “sell” rating to a “buy” rating and set a $331.07 target price on the stock in a research note on Tuesday, December 26th. Thirteen research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $324.20.

The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.71. The company has a market capitalization of $54,170.00, a PE ratio of -27.34 and a beta of 0.97.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($3.12) by $0.08. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.26 billion. Tesla had a negative return on equity of 32.11% and a negative net margin of 16.68%. Tesla’s quarterly revenue was up 43.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.69) earnings per share. research analysts expect that Tesla Inc will post -15.15 earnings per share for the current fiscal year.

In other Tesla news, VP Eric Branderiz sold 801 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $354.58, for a total transaction of $284,018.58. Following the sale, the vice president now directly owns 1,287 shares in the company, valued at $456,344.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP John Douglas Field sold 1,400 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $340.67, for a total value of $476,938.00. Following the sale, the vice president now owns 21,528 shares in the company, valued at $7,333,943.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,231 shares of company stock worth $3,292,431. 23.10% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of TSLA. Advisory Services Network LLC raised its holdings in shares of Tesla by 21.6% in the second quarter. Advisory Services Network LLC now owns 534 shares of the electric vehicle producer’s stock worth $193,000 after acquiring an additional 95 shares during the last quarter. Gofen & Glossberg LLC IL raised its holdings in shares of Tesla by 13.6% in the second quarter. Gofen & Glossberg LLC IL now owns 1,037 shares of the electric vehicle producer’s stock worth $375,000 after acquiring an additional 124 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Tesla by 20.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 900 shares of the electric vehicle producer’s stock worth $306,000 after acquiring an additional 150 shares during the last quarter. Nippon Life Insurance Co. raised its holdings in shares of Tesla by 3.4% in the third quarter. Nippon Life Insurance Co. now owns 4,620 shares of the electric vehicle producer’s stock worth $1,576,000 after acquiring an additional 151 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its holdings in shares of Tesla by 0.7% in the third quarter. First Republic Investment Management Inc. now owns 23,373 shares of the electric vehicle producer’s stock worth $7,972,000 after acquiring an additional 161 shares during the last quarter. Institutional investors own 57.49% of the company’s stock.

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About Tesla

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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