Tesla (NASDAQ:TSLA) Stock Price Down 1.3% – Time to Sell?

Tesla, Inc. (NASDAQ:TSLA)’s stock price was down 1.3% on Monday . The company traded as low as $393.39 and last traded at $401.13. Approximately 24,700,736 shares changed hands during trading, a decline of 66% from the average daily volume of 73,531,305 shares. The stock had previously closed at $406.58.

Analysts Set New Price Targets

TSLA has been the subject of several research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Robert W. Baird lifted their price target on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Stifel Nicolaus increased their price objective on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Evercore ISI raised their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Finally, StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $313.84.

Tesla Price Performance

The stock has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 109.13, a PEG ratio of 8.42 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a fifty day simple moving average of $401.04 and a two-hundred day simple moving average of $296.63.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 617,886 shares of company stock valued at $212,451,751 over the last quarter. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently made changes to their positions in TSLA. Elser Financial Planning Inc bought a new position in Tesla in the 4th quarter valued at approximately $436,000. Opal Wealth Advisors LLC boosted its holdings in shares of Tesla by 6.3% during the 4th quarter. Opal Wealth Advisors LLC now owns 5,407 shares of the electric vehicle producer’s stock valued at $2,184,000 after acquiring an additional 322 shares in the last quarter. Elevation Wealth Partners LLC grew its position in Tesla by 37.7% during the 4th quarter. Elevation Wealth Partners LLC now owns 8,530 shares of the electric vehicle producer’s stock worth $3,445,000 after acquiring an additional 2,336 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new position in Tesla in the 4th quarter worth about $164,000. Finally, Fonville Wealth Management LLC boosted its stake in shares of Tesla by 8.7% during the fourth quarter. Fonville Wealth Management LLC now owns 1,329 shares of the electric vehicle producer’s stock valued at $537,000 after purchasing an additional 106 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.