Today, Investors Sell Shares of Tesla Motors Inc. (TSLA) on Strength Following Analyst Downgrade

Today, Investors Sell Shares of Tesla Motors Inc. (TSLA) on Strength Following Analyst Downgrade
Traders sold shares of Tesla Motors Inc. (NASDAQ:TSLA) on strength during trading hours on Thursday after Morgan Stanley lowered their price target on the stock from $245.00 to $242.00. $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 equities tracked, Tesla Motors had the 0th highest net out-flow for the day. Tesla Motors traded up $1.97 for the day and closed at $193.14

Other equities analysts also recently issued research reports about the company. Vetr downgraded Tesla Motors from a “strong-buy” rating to a “buy” rating and set a $223.68 target price on the stock. in a research report on Tuesday, September 6th. Robert W. Baird reaffirmed a “buy” rating and issued a $338.00 target price on shares of Tesla Motors in a research report on Monday, August 1st. FBN Securities reaffirmed a “buy” rating and issued a $275.00 target price on shares of Tesla Motors in a research report on Thursday, October 27th. Finally, Global Equities Research reaffirmed a “buy” rating and issued a $385.00 target price on shares of Tesla Motors in a research report on Thursday, October 27th. Eight research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $250.49.

In related news, Director Kimbal Musk sold 2,779 shares of Tesla Motors stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $197.60, for a total value of $549,130.40. Following the sale, the director now owns 154,644 shares of the company’s stock, valued at approximately $30,557,654.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey B. Straubel sold 33,430 shares of Tesla Motors stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $190.82, for a total transaction of $6,379,112.60. Following the completion of the sale, the insider now directly owns 359,655 shares in the company, valued at approximately $68,629,367.10. The disclosure for this sale can be found here. Company insiders own 27.70% of the company’s stock.

Large investors have recently bought and sold shares of the company. Baillie Gifford & Co. boosted its stake in shares of Tesla Motors by 9.5% in the second quarter. Baillie Gifford & Co. now owns 13,066,791 shares of the electric vehicle producer’s stock worth $2,773,818,000 after buying an additional 1,137,759 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Tesla Motors by 13.4% in the second quarter. Vanguard Group Inc. now owns 4,894,369 shares of the electric vehicle producer’s stock worth $1,038,976,000 after buying an additional 578,459 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Tesla Motors by 578.7% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 281,004 shares of the electric vehicle producer’s stock worth $57,333,000 after buying an additional 239,600 shares during the last quarter. State Treasurer State of Michigan boosted its stake in shares of Tesla Motors by 224.0% in the second quarter. State Treasurer State of Michigan now owns 339,623 shares of the electric vehicle producer’s stock worth $72,095,000 after buying an additional 234,802 shares during the last quarter. Finally, Blue Ridge Capital L.L.C. acquired a new stake in shares of Tesla Motors during the second quarter worth about $40,596,000. 64.36% of the stock is currently owned by institutional investors.

The firm’s market cap is $29.48 billion. The stock’s 50 day moving average price is $194.23 and its 200 day moving average price is $210.26.

Tesla Motors (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 26th. The electric vehicle producer reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $1.25. The business had revenue of $2.30 billion for 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 was up 145.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.58) earnings per share. Equities analysts forecast that Tesla Motors Inc. will post ($2.04) earnings per share for the current fiscal year.

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