Tesla (NASDAQ:TSLA) Stock Price Down 2.8% – Time to Sell?

Tesla, Inc. (NASDAQ:TSLA)’s share price fell 2.8% during trading on Tuesday . The stock traded as low as $406.31 and last traded at $414.43. 39,991,064 shares traded hands during trading, a decline of 48% from the average session volume of 77,552,891 shares. The stock had previously closed at $426.50.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Piper Sandler lifted their target price on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday. Glj Research reissued a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Friday, January 3rd. The Goldman Sachs Group boosted their target price on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Finally, Morgan Stanley raised their price target on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $309.48.

Tesla Stock Down 0.7 %

The firm has a 50-day simple moving average of $395.08 and a 200 day simple moving average of $292.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market capitalization of $1.32 trillion, a PE ratio of 112.98, a price-to-earnings-growth ratio of 8.55 and a beta of 2.30.

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

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 617,886 shares of company stock valued at $212,451,751. Corporate insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Institutional investors have recently modified their holdings of the business. World Investment Advisors LLC grew its position in shares of Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after acquiring an additional 184,459 shares during the last quarter. Destination Wealth Management grew its position in Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd increased its stake in shares of Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares during the period. MML Investors Services LLC raised its holdings in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after buying an additional 9,919 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after buying an additional 1,741 shares during the period. Institutional investors own 66.20% of the company’s stock.

About Tesla

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.