Tesla (NASDAQ:TSLA) Shares Down 2.5% – Time to Sell?

Tesla, Inc. (NASDAQ:TSLA) fell 2.5% on Wednesday . The stock traded as low as $380.02 and last traded at $382.40. 21,237,301 shares changed hands during trading, a decline of 71% from the average session volume of 73,099,727 shares. The stock had previously closed at $392.21.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research report on Monday, January 6th. Piper Sandler raised their price target on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Truist Financial increased their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Barclays boosted their price objective on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Nine investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $318.31.

Tesla Trading Down 3.4 %

The firm has a market cap of $1.22 trillion, a PE ratio of 185.76, a PEG ratio of 6.79 and a beta of 2.34. The business has a 50-day moving average price of $406.20 and a two-hundred day moving average price of $301.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts forecast that Tesla, Inc. will post 2.82 EPS for the current year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 553,386 shares of company stock worth $196,305,796. 20.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Several hedge funds and other institutional investors have recently made changes to their positions in TSLA. Geode Capital Management LLC boosted its position in Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after buying an additional 1,022,589 shares during the last quarter. FMR LLC raised its stake in Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after buying an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Tesla by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after acquiring an additional 301,968 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in Tesla by 11.9% during the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares during the last quarter. Institutional investors and hedge funds 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.