Tesla (NASDAQ:TSLA) Trading Down 1.3% – Here’s Why

Tesla, Inc. (NASDAQ:TSLA) was down 1.3% during mid-day trading on Friday . The stock traded as low as $377.29 and last traded at $389.99. Approximately 28,074,766 shares traded hands during trading, a decline of 64% from the average daily volume of 77,157,867 shares. The stock had previously closed at $394.94.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research note on Monday. The Goldman Sachs Group boosted their price objective on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Evercore ISI raised their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Canaccord Genuity Group boosted their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Glj Research restated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Friday, January 3rd. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $295.69.

Tesla Trading Down 0.3 %

The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business’s fifty day simple moving average is $373.68 and its two-hundred day simple moving average is $279.12. The company has a market cap of $1.26 trillion, a price-to-earnings ratio of 107.88, a PEG ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently bought and sold shares of the company. Connable Office Inc. grew its holdings in Tesla by 0.3% during the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after acquiring an additional 38 shares during the last quarter. Community Bank N.A. lifted its position in Tesla by 4.4% in the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after acquiring an additional 38 shares in the last quarter. Holistic Financial Partners raised its position in Tesla by 1.0% in the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after buying an additional 40 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc boosted its holdings in Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares during the last quarter. Finally, Altman Advisors Inc. increased its stake in Tesla by 0.4% in the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock valued at $2,814,000 after buying an additional 43 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.