Tesla (NASDAQ:TSLA) Announces Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Tesla (NASDAQ:TSLAGet Rating) issued its quarterly earnings data on Wednesday. The electric vehicle producer reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.21, RTT News reports. The firm had revenue of $24.32 billion for the quarter, compared to the consensus estimate of $24.26 billion. Tesla had a net margin of 14.95% and a return on equity of 31.10%. Tesla’s quarterly revenue was up 37.2% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS.

Tesla Price Performance

Shares of Tesla stock opened at $144.43 on Thursday. The firm has a fifty day simple moving average of $147.92 and a 200-day simple moving average of $219.88. The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. Tesla has a 1-year low of $101.81 and a 1-year high of $384.29. The stock has a market capitalization of $456.07 billion, a price-to-earnings ratio of 44.62, a PEG ratio of 1.30 and a beta of 2.02.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 1,312 shares of the business’s stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $178.07, for a total value of $233,627.84. Following the completion of the sale, the senior vice president now directly owns 64,259 shares in the company, valued at $11,442,600.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Andrew D. Baglino sold 1,312 shares of the business’s stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $178.07, for a total transaction of $233,627.84. Following the transaction, the senior vice president now owns 64,259 shares of the company’s stock, valued at $11,442,600.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Elon Musk sold 9,650,000 shares of the business’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $208.58, for a total transaction of $2,012,797,000.00. Following the transaction, the chief executive officer now directly owns 455,467,432 shares in the company, valued at approximately $95,001,396,966.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,162,333 shares of company stock worth $4,490,152,834. 25.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently bought and sold shares of TSLA. Bank of New York Mellon Corp increased its position in Tesla by 203.9% during the third quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after acquiring an additional 13,558,882 shares during the period. Retirement Systems of Alabama increased its holdings in Tesla by 212.5% in the 3rd quarter. Retirement Systems of Alabama now owns 1,254,565 shares of the electric vehicle producer’s stock valued at $332,773,000 after buying an additional 853,071 shares during the period. Renaissance Technologies LLC increased its holdings in Tesla by 109.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,555,375 shares of the electric vehicle producer’s stock valued at $1,676,072,000 after buying an additional 811,900 shares during the period. Northern Trust Corp increased its holdings in Tesla by 2.5% in the 1st quarter. Northern Trust Corp now owns 8,774,479 shares of the electric vehicle producer’s stock valued at $9,455,380,000 after buying an additional 216,282 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Tesla by 5.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,072,718 shares of the electric vehicle producer’s stock valued at $4,388,761,000 after buying an additional 197,467 shares during the period. Institutional investors own 43.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Tesla from $130.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday. StockNews.com began coverage on shares of Tesla in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. JPMorgan Chase & Co. dropped their price target on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Tesla from $250.00 to $220.00 in a research report on Thursday, January 19th. Finally, The Goldman Sachs Group dropped their price target on shares of Tesla from $235.00 to $205.00 and set a “buy” rating on the stock in a research report on Monday, January 2nd. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Tesla has an average rating of “Hold” and an average price target of $215.23.

About Tesla

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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.

Further Reading

Earnings History for Tesla (NASDAQ:TSLA)

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