Tesla, Inc. (NASDAQ:TSLA – Free Report) – Equities research analysts at Zacks Research cut their Q1 2024 earnings per share estimates for shares of Tesla in a report released on Monday, September 4th. Zacks Research analyst R. Singhi now anticipates that the electric vehicle producer will earn $0.80 per share for the quarter, down from their prior forecast of $0.86. The consensus estimate for Tesla’s current full-year earnings is $2.95 per share. Zacks Research also issued estimates for Tesla’s Q1 2025 earnings at $0.95 EPS.
Tesla (NASDAQ:TSLA – Get Free Report) last posted its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. The firm had revenue of $24.93 billion during the quarter, compared to analyst estimates of $24.22 billion. Tesla had a net margin of 12.97% and a return on equity of 26.10%. Tesla’s revenue was up 47.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS.
Check Out Our Latest Report on TSLA
Tesla Trading Down 1.8 %
Tesla stock opened at $251.92 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $256.83 and a two-hundred day moving average price of $217.58. The firm has a market capitalization of $799.59 billion, a price-to-earnings ratio of 71.37, a PEG ratio of 3.80 and a beta of 2.09. Tesla has a 52-week low of $101.81 and a 52-week high of $313.80.
Insider Transactions at Tesla
In other news, SVP Xiaotong Zhu sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $257.23, for a total transaction of $643,075.00. Following the completion of the sale, the senior vice president now directly owns 57,972 shares of the company’s stock, valued at approximately $14,912,137.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Xiaotong Zhu sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $257.23, for a total transaction of $643,075.00. Following the completion of the sale, the senior vice president now directly owns 57,972 shares of the company’s stock, valued at approximately $14,912,137.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Vaibhav Taneja sold 12,000 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $250.04, for a total transaction of $3,000,480.00. Following the transaction, the chief accounting officer now owns 104,504 shares in the company, valued at approximately $26,130,180.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,250 shares of company stock valued at $16,768,690. 20.90% of the stock is owned by insiders.
Hedge Funds Weigh In On Tesla
Institutional investors have recently made changes to their positions in the business. State Street Corp lifted its position in Tesla by 4.4% in the second quarter. State Street Corp now owns 104,115,390 shares of the electric vehicle producer’s stock worth $27,254,286,000 after purchasing an additional 4,431,570 shares during the period. Geode Capital Management LLC increased its stake in Tesla by 3.2% in the second quarter. Geode Capital Management LLC now owns 51,656,526 shares of the electric vehicle producer’s stock valued at $13,484,212,000 after acquiring an additional 1,608,559 shares during the period. FMR LLC increased its stake in Tesla by 3.9% in the first quarter. FMR LLC now owns 33,326,389 shares of the electric vehicle producer’s stock valued at $6,913,893,000 after acquiring an additional 1,244,230 shares during the period. Norges Bank bought a new stake in Tesla in the fourth quarter valued at about $3,459,540,000. Finally, Moneta Group Investment Advisors LLC boosted its stake in Tesla by 180,125.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after buying an additional 26,836,879 shares in the last quarter. 41.87% of the stock is currently owned by institutional investors.
Tesla Company Profile
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, retail merchandise, and vehicle insurance services.
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