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

Today, Traders Sell Shares of Tesla Motors Inc. (TSLA) on Strength on 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 $242.00 to $50.00. $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

A number of other analysts also recently issued reports on TSLA. Piper Jaffray Cos. reissued a “hold” rating and issued a $223.00 target price on shares of Tesla Motors in a research report on Thursday, October 27th. Evercore ISI reissued a “buy” rating and issued a $320.00 target price on shares of Tesla Motors in a research report on Thursday, October 27th. Pacific Crest reissued a “hold” rating on shares of Tesla Motors in a research report on Wednesday, September 28th. Vetr raised Tesla Motors from a “hold” rating to a “buy” rating and set a $212.01 target price for the company in a research report on Thursday, October 6th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $338.00 target price on shares of Tesla Motors in a research report on Wednesday, August 10th. Eight analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $243.38.

In other Tesla Motors news, Director Kimbal Musk sold 2,779 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $197.60, for a total transaction of $549,130.40. Following the transaction, the director now owns 154,644 shares in the company, valued at approximately $30,557,654.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey B. Straubel sold 33,430 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $190.82, for a total value of $6,379,112.60. Following the transaction, the insider now 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.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. NEXT Financial Group Inc increased its position in Tesla Motors by 31.0% in the second quarter. NEXT Financial Group Inc now owns 1,053 shares of the electric vehicle producer’s stock worth $223,000 after buying an additional 249 shares during the period. British Columbia Investment Management Corp increased its position in Tesla Motors by 4.2% in the second quarter. British Columbia Investment Management Corp now owns 50,633 shares of the electric vehicle producer’s stock worth $10,748,000 after buying an additional 2,051 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in Tesla Motors by 7.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,446 shares of the electric vehicle producer’s stock worth $307,000 after buying an additional 100 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Tesla Motors by 3.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,029 shares of the electric vehicle producer’s stock worth $1,068,000 after buying an additional 185 shares during the period. Finally, Gateway Investment Advisers LLC increased its position in Tesla Motors by 3.8% in the second quarter. Gateway Investment Advisers LLC now owns 38,663 shares of the electric vehicle producer’s stock worth $8,207,000 after buying an additional 1,433 shares during the period. Hedge funds and other institutional investors own 64.36% of the company’s stock.

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

Tesla Motors (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 26th. The electric vehicle producer reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $1.25. Tesla Motors had a negative net margin of 14.74% and a negative return on equity of 29.17%. The firm earned $2.30 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter last year, the firm earned ($0.58) EPS. The firm’s revenue for the quarter was up 145.3% compared to the same quarter last year. Analysts expect that Tesla Motors Inc. will post ($2.04) earnings per share for the current fiscal year.

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