Tesla (NASDAQ:TSLA) Trading Down 2.9%

Tesla, Inc. (NASDAQ:TSLA)’s share price fell 2.9% on Tuesday . The stock traded as low as $153.75 and last traded at $156.73. 46,021,121 shares were traded during trading, a decline of 55% from the average session volume of 101,451,383 shares. The stock had previously closed at $161.48.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSLA. Citigroup dropped their price target on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Jefferies Financial Group dropped their price target on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $298.00 price target on shares of Tesla in a research note on Wednesday, March 27th. HSBC dropped their price target on shares of Tesla from $143.00 to $138.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 3rd. Finally, Daiwa Capital Markets cut shares of Tesla from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $245.00 to $195.00 in a research note on Tuesday, February 6th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $197.15.

Tesla Stock Performance

The business’s fifty day moving average price is $180.24 and its two-hundred day moving average price is $212.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The stock has a market capitalization of $495.08 billion, a P/E ratio of 36.07, a P/E/G ratio of 4.15 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter last year, the firm earned $1.07 earnings per share. The business’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.97 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,098 shares of company stock worth $38,802,534. Insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Large investors have recently added to or reduced their stakes in the stock. Mount Vernon Associates Inc. MD boosted its position in Tesla by 5.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after buying an additional 350 shares during the period. Oak Ridge Investments LLC boosted its position in Tesla by 4.6% in the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after buying an additional 1,405 shares during the period. Corient Private Wealth LLC lifted its position in shares of Tesla by 3.7% in the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after purchasing an additional 25,943 shares during the period. Nordea Investment Management AB lifted its position in shares of Tesla by 11.8% in the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after purchasing an additional 81,729 shares during the period. Finally, First National Corp MA ADV lifted its position in shares of Tesla by 30.0% in the 4th quarter. First National Corp MA ADV now owns 1,401 shares of the electric vehicle producer’s stock worth $348,000 after purchasing an additional 323 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

About Tesla

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; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.