Tesla (NASDAQ:TSLA) Shares Down 1.7%

Tesla, Inc. (NASDAQ:TSLA)’s stock price fell 1.7% on Wednesday . The company traded as low as $179.41 and last traded at $180.15. 35,024,107 shares were traded during trading, a decline of 66% from the average session volume of 104,477,938 shares. The stock had previously closed at $183.28.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TSLA. Piper Sandler reissued an “overweight” rating and set a $205.00 price objective on shares of Tesla in a research note on Monday, April 22nd. China Renaissance began coverage on Tesla in a research note on Monday, February 26th. They set a “hold” rating for the company. The Goldman Sachs Group dropped their price objective on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Barclays dropped their price objective on Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a report on Wednesday, April 17th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $185.90.

Tesla Stock Up 0.0 %

The stock has a market capitalization of $574.09 billion, a P/E ratio of 45.92, a P/E/G ratio of 4.89 and a beta of 2.41. The company’s 50-day moving average price is $174.07 and its 200 day moving average price is $205.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Insider Activity

In other news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on 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 completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. 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. Company insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Proficio Capital Partners LLC grew its stake in shares of Tesla by 5.6% in the 1st quarter. Proficio Capital Partners LLC now owns 9,589 shares of the electric vehicle producer’s stock worth $1,682,000 after buying an additional 506 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Tesla in the 1st quarter worth $601,000. Nikko Asset Management Americas Inc. grew its stake in shares of Tesla by 60.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock worth $501,654,000 after buying an additional 1,072,366 shares in the last quarter. Patron Partners LLC grew its stake in shares of Tesla by 6.8% in the 1st quarter. Patron Partners LLC now owns 2,734 shares of the electric vehicle producer’s stock worth $481,000 after buying an additional 173 shares in the last quarter. Finally, Integrity Financial Corp WA boosted its stake in shares of Tesla by 6.5% during the 1st quarter. Integrity Financial Corp WA now owns 5,498 shares of the electric vehicle producer’s stock worth $966,000 after purchasing an additional 336 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.