Tesla (NASDAQ:TSLA) Shares Down 2.9%

Tesla, Inc. (NASDAQ:TSLA) was down 2.9% during mid-day trading on Tuesday . The company traded as low as $153.75 and last traded at $156.73. Approximately 46,021,121 shares traded hands during trading, a decline of 55% from the average daily volume of 101,451,383 shares. The stock had previously closed at $161.48.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TSLA shares. Sanford C. Bernstein lowered their price target on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research report on Tuesday, March 26th. UBS Group lowered their price target on shares of Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Robert W. Baird lowered their price target on shares of Tesla from $300.00 to $280.00 and set an “outperform” rating for the company in a research report on Tuesday, April 2nd. TD Cowen lowered their price target on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. Finally, Canaccord Genuity Group decreased their target price on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $198.81.

Tesla Price Performance

The firm’s 50-day moving average is $181.44 and its 200-day moving average is $213.70. 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 company has a market capitalization of $498.48 billion, a P/E ratio of 36.36, a price-to-earnings-growth ratio of 4.50 and a beta of 2.40.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 earnings per share. Analysts predict that Tesla, Inc. will post 1.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 over the last three months. 20.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently bought and sold shares of the business. Mount Vernon Associates Inc. MD increased its position in Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after acquiring an additional 350 shares during the last quarter. Oak Ridge Investments LLC increased its position in Tesla by 4.6% during the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after acquiring an additional 1,405 shares during the last quarter. CWM LLC increased its position in Tesla by 14.4% during the third quarter. CWM LLC now owns 146,740 shares of the electric vehicle producer’s stock valued at $36,717,000 after acquiring an additional 18,462 shares during the last quarter. Corient Private Wealth LLC increased its position in Tesla by 3.7% during the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after acquiring an additional 25,943 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in Tesla by 11.8% during the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after acquiring an additional 81,729 shares during the last quarter. Hedge funds and other 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.