Tesla (NASDAQ:TSLA) Shares Down 0.8%

Shares of Tesla, Inc. (NASDAQ:TSLA) were down 0.8% on Thursday . The stock traded as low as $176.02 and last traded at $178.63. Approximately 34,416,283 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 104,308,031 shares. The stock had previously closed at $179.99.

Wall Street Analyst Weigh In

Several research firms have issued reports on TSLA. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Wednesday, April 24th. Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Canaccord Genuity Group reduced their target price on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Finally, Mizuho lowered their price target on Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $185.90.

Tesla Price Performance

The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock has a market cap of $577.85 billion, a PE ratio of 46.22, a P/E/G ratio of 4.71 and a beta of 2.41. The company’s 50 day moving average is $174.07 and its 200-day moving average is $205.92.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TSLA. Wyrmwood Management LLC acquired a new stake in shares of Tesla during the fourth quarter worth $25,000. Lam Group Inc. bought a new stake in shares of Tesla during the 4th quarter valued at about $25,000. Mendota Financial Group LLC lifted its holdings in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in Tesla in the fourth quarter worth about $37,000. Finally, Kathleen S. Wright Associates Inc. boosted its stake in Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after acquiring an additional 100 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.