Tesla (NASDAQ:TSLA) Trading Down 1.2% Following Analyst Downgrade

Tesla, Inc. (NASDAQ:TSLA)’s share price was down 1.2% during mid-day trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $218.00 to $200.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Tesla traded as low as $175.70 and last traded at $177.68. Approximately 30,441,129 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 101,827,852 shares. The stock had previously closed at $179.83.

Several other equities research analysts have also weighed in on the stock. TD Cowen lowered their target price on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. KGI Securities restated a “neutral” rating and set a $213.00 target price (down from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Truist Financial cut their target price on shares of Tesla from $227.00 to $193.00 and set a “hold” rating on the stock in a research report on Thursday, January 25th. The Goldman Sachs Group cut their target price on shares of Tesla from $220.00 to $190.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Finally, Citigroup cut their price target on shares of Tesla from $224.00 to $196.00 and set a “neutral” rating on the stock in a research report on Wednesday. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $204.63.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the 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 transaction, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,598 shares of company stock worth $36,952,434. Insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Axiom Financial Strategies LLC lifted its stake in shares of Tesla by 9.8% in the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after buying an additional 81 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Tesla by 19.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after buying an additional 164,789 shares during the last quarter. MAS Advisors LLC increased its holdings in Tesla by 25.7% during the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after buying an additional 81 shares during the last quarter. Ergoteles LLC increased its holdings in Tesla by 33.4% during the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after buying an additional 893 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Tesla by 6.8% in the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock worth $77,767,000 after purchasing an additional 4,593 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

The stock has a market cap of $562.50 billion, a PE ratio of 41.23, a P/E/G ratio of 4.01 and a beta of 2.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The firm’s 50 day moving average price is $188.49 and its two-hundred day moving average price is $222.36.

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 analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm 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 business posted $1.07 earnings per share. Tesla’s revenue was up 3.5% compared to the same quarter last year. On average, research analysts expect that Tesla, Inc. will post 2.44 earnings per share for the current year.

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.