Tesla (NASDAQ:TSLA) Stock Price Down 3.4% – What’s Next?

Tesla, Inc. (NASDAQ:TSLA)’s share price traded down 3.4% during trading on Tuesday . The company traded as low as $391.20 and last traded at $397.15. 33,351,793 shares changed hands during trading, a decline of 58% from the average session volume of 79,524,617 shares. The stock had previously closed at $411.05.

Analyst Ratings Changes

TSLA has been the subject of several research analyst reports. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Wedbush reiterated an “outperform” rating and issued a $400.00 price objective on shares of Tesla in a report on Monday, November 18th. Glj Research restated a “sell” rating and set a $24.86 target price on shares of Tesla in a research note on Friday, January 3rd. Stifel Nicolaus upped their price target on shares of Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $295.69.

Tesla Trading Up 0.1 %

The company has a market capitalization of $1.27 trillion, a P/E ratio of 108.20, a P/E/G ratio of 10.80 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $370.78 and its 200 day moving average price is $278.31.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the business posted $0.53 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,442,856.32. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

A number of large investors have recently modified their holdings of TSLA. Geode Capital Management LLC grew its stake in Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after buying an additional 1,022,589 shares in the last quarter. FMR LLC lifted its stake in Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after purchasing an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Tesla by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after purchasing an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after buying an additional 1,294,093 shares during the last quarter. 66.20% 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. 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.