Tesla (NASDAQ:TSLA) Trading Down 2.9%

Shares of Tesla, Inc. (NASDAQ:TSLA) were down 2.9% on Tuesday . The company traded as low as $153.75 and last traded at $156.73. Approximately 46,021,121 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 101,451,383 shares. The stock had previously closed at $161.48.

Analyst Ratings Changes

A number of brokerages recently issued reports on TSLA. JPMorgan Chase & Co. decreased their price target on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. Sanford C. Bernstein decreased their price target on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research note on Tuesday, March 26th. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research note on Wednesday. TD Cowen decreased their price target on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Finally, UBS Group decreased their price target on shares of Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $197.15.

Tesla Stock Performance

The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $180.24 and its two-hundred day moving average price is $212.64. The firm has a market capitalization of $495.08 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 4.15 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $25.64 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. Tesla’s quarterly revenue was up 3.5% on a year-over-year basis. On average, analysts forecast that Tesla, Inc. will post 1.97 EPS for the current year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 in the last three months. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares during the last quarter. State Street Corp raised its holdings in Tesla by 0.7% in the first quarter. State Street Corp now owns 99,683,820 shares of the electric vehicle producer’s stock valued at $20,680,162,000 after buying an additional 685,454 shares during the period. Norges Bank purchased a new position in Tesla in the fourth quarter valued at approximately $7,844,757,000. Morgan Stanley raised its holdings in Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares during the period. Finally, FMR LLC raised its holdings in Tesla by 0.9% in the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after buying an additional 269,182 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

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.