Tesla (NASDAQ:TSLA) Stock Price Down 0.7% – Should You Sell?

Shares of Tesla, Inc. (NASDAQ:TSLA) were down 0.7% on Wednesday . The company traded as low as $416.10 and last traded at $421.30. Approximately 24,613,885 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 77,547,750 shares. The stock had previously closed at $424.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TSLA shares. HSBC reaffirmed a “reduce” rating and set a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Friday, January 3rd. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Finally, Evercore ISI raised their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $309.48.

Tesla Trading Down 1.4 %

The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.31 trillion, a P/E ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The company has a 50-day moving average price of $397.11 and a 200 day moving average price of $292.97.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated 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 owns 105,032 shares in the company, valued at approximately $26,442,856.32. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock worth $212,451,751 in the last 90 days. 20.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TSLA. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Ameriprise Financial Inc. raised its position in shares of Tesla by 10.7% in the second quarter. Ameriprise Financial Inc. now owns 4,754,950 shares of the electric vehicle producer’s stock valued at $941,050,000 after buying an additional 459,704 shares during the last quarter. Drucker Wealth 3.0 LLC purchased a new position in shares of Tesla in the second quarter worth about $445,000. DoubleLine ETF Adviser LP acquired a new position in Tesla during the second quarter worth about $14,152,000. Finally, Daymark Wealth Partners LLC grew its stake in Tesla by 252.1% during the 2nd quarter. Daymark Wealth Partners LLC now owns 33,432 shares of the electric vehicle producer’s stock valued at $6,616,000 after acquiring an additional 23,938 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.