Tesla (NASDAQ:TSLA) Shares Down 1.9%

Tesla, Inc. (NASDAQ:TSLAGet Free Report)’s stock price was down 1.9% on Wednesday . The company traded as low as $173.11 and last traded at $174.09. Approximately 40,096,018 shares were traded during trading, a decline of 61% from the average daily volume of 101,816,258 shares. The stock had previously closed at $177.55.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target on Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a report on Friday, April 12th. Canaccord Genuity Group dropped their price target on Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Canaccord Genuity Group reduced their price objective on shares of Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Finally, Morgan Stanley decreased their price target on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $185.90.

View Our Latest Stock Report on TSLA

Tesla Trading Down 2.0 %

The stock has a market cap of $554.89 billion, a PE ratio of 44.43, a P/E/G ratio of 4.74 and a beta of 2.41. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a 50-day simple moving average of $170.90 and a 200-day simple moving average of $202.99.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Equities analysts forecast that Tesla, Inc. will post 1.89 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on 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 sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. Insiders sold a total of 302,803 shares of company stock valued at $56,124,840 in the last three months. Company insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wyrmwood Management LLC bought a new stake in shares of Tesla in the 4th quarter valued at about $25,000. Lam Group Inc. purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $25,000. Mendota Financial Group LLC increased its stake in shares of 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 buying an additional 91 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the 4th quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. grew its holdings in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

About Tesla

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.