Tesla Stock Set to Split on Thursday, August 25th (NASDAQ:TSLA)

Tesla, Inc. (NASDAQ:TSLAGet Rating)’s stock is going to split before the market opens on Thursday, August 25th. The 3-1 split was announced on Thursday, August 25th. The newly issued shares will be payable to shareholders after the closing bell on Thursday, August 25th.

Tesla Stock Performance

Shares of TSLA opened at $871.27 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 1.43. The stock has a 50 day moving average price of $745.90 and a two-hundred day moving average price of $839.42. The firm has a market capitalization of $910.03 billion, a P/E ratio of 104.97, a P/E/G ratio of 2.62 and a beta of 2.17. Tesla has a 52 week low of $620.57 and a 52 week high of $1,243.49.

Tesla (NASDAQ:TSLAGet Rating) last issued its quarterly earnings data on Wednesday, July 20th. The electric vehicle producer reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.46. The firm had revenue of $16.93 billion during the quarter, compared to analyst estimates of $16.92 billion. Tesla had a return on equity of 29.04% and a net margin of 14.17%. The company’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.02 EPS. Equities analysts forecast that Tesla will post 10.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TSLA. Berenberg Bank decreased their price objective on Tesla from $900.00 to $850.00 in a report on Thursday, July 21st. Mizuho upped their target price on Tesla from $1,150.00 to $1,175.00 and gave the company a “buy” rating in a report on Thursday, July 21st. Cowen upped their target price on Tesla from $700.00 to $733.00 and gave the company a “market perform” rating in a report on Thursday, July 21st. Piper Sandler reduced their target price on Tesla from $1,260.00 to $1,035.00 and set an “overweight” rating for the company in a report on Wednesday, May 18th. Finally, Morgan Stanley reduced their target price on Tesla from $1,200.00 to $1,150.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Eight investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $861.33.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 8,750 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $904.00, for a total transaction of $7,910,000.00. Following the sale, the director now owns 1,800 shares in the company, valued at $1,627,200. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Kathleen Wilson-Thompson sold 8,750 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $904.00, for a total value of $7,910,000.00. Following the transaction, the director now owns 1,800 shares of the company’s stock, valued at $1,627,200. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 3,500 shares of the company’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $722.10, for a total transaction of $2,527,350.00. Following the completion of the transaction, the senior vice president now directly owns 20,138 shares in the company, valued at approximately $14,541,649.80. The disclosure for this sale can be found here. Insiders have sold a total of 66,239 shares of company stock worth $53,099,879 over the last 90 days. Corporate insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TSLA. Kellett Schaffner Wealth Advisors LLC increased its stake in Tesla by 9.2% in the second quarter. Kellett Schaffner Wealth Advisors LLC now owns 714 shares of the electric vehicle producer’s stock valued at $481,000 after acquiring an additional 60 shares during the last quarter. Davis R M Inc. increased its stake in Tesla by 17.1% in the second quarter. Davis R M Inc. now owns 2,484 shares of the electric vehicle producer’s stock valued at $1,673,000 after acquiring an additional 363 shares during the last quarter. ProVise Management Group LLC increased its stake in Tesla by 1.6% in the second quarter. ProVise Management Group LLC now owns 1,365 shares of the electric vehicle producer’s stock valued at $919,000 after acquiring an additional 21 shares during the last quarter. Sustainable Insight Capital Management LLC increased its stake in Tesla by 197.5% in the second quarter. Sustainable Insight Capital Management LLC now owns 3,299 shares of the electric vehicle producer’s stock valued at $2,668,000 after acquiring an additional 2,190 shares during the last quarter. Finally, Quad Cities Investment Group LLC increased its stake in Tesla by 12.1% in the second quarter. Quad Cities Investment Group LLC now owns 835 shares of the electric vehicle producer’s stock valued at $562,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 40.64% of the company’s stock.

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.

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