Tesla (NASDAQ:TSLA) Shares Down 1.2% – Should You Sell?

Tesla, Inc. (NASDAQ:TSLA)’s stock price was down 1.2% during trading on Thursday . The company traded as low as $335.28 and last traded at $338.08. Approximately 26,280,305 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 95,691,031 shares. The stock had previously closed at $342.03.

Analysts Set New Price Targets

Several brokerages have commented on TSLA. HSBC reiterated a “reduce” rating and set a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 price target on shares of Tesla in a research note on Wednesday, October 23rd. Barclays lifted their price target on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Argus restated a “buy” rating and issued a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $230.18.

Tesla Trading Up 0.2 %

The business has a 50 day moving average of $259.42 and a two-hundred day moving average of $224.12. The firm has a market cap of $1.10 trillion, a P/E ratio of 92.62, a PEG ratio of 11.24 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. Analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is owned by insiders.

Institutional Trading of Tesla

Several large investors have recently modified their holdings of the stock. Connable Office Inc. boosted its position in Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after buying an additional 38 shares during the period. Community Bank N.A. increased its holdings in Tesla by 4.4% during the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after purchasing an additional 38 shares during the period. Holistic Financial Partners increased its stake in shares of Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after buying an additional 40 shares during the period. Integris Wealth Management LLC raised its holdings in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares in the last quarter. Finally, Sherrill & Hutchins Financial Advisory Inc raised its holdings in shares of Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares in the last quarter. 66.20% of the stock is 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.