Tesla (NASDAQ:TSLA) Trading Down 2.2% After Analyst Downgrade

Shares of Tesla, Inc. (NASDAQ:TSLA) dropped 2.2% during mid-day trading on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $218.00 to $200.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Tesla traded as low as $175.30 and last traded at $175.79. Approximately 77,654,838 shares traded hands during trading, a decline of 19% from the average daily volume of 95,391,528 shares. The stock had previously closed at $179.83.

Several other brokerages have also recently weighed in on TSLA. KGI Securities restated a “neutral” rating and issued a $213.00 price objective (down previously from $309.00) on shares of Tesla in a report on Thursday, January 25th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Monday. Barclays decreased their price objective on Tesla from $250.00 to $225.00 and set an “equal weight” rating for the company in a report on Thursday, January 25th. Guggenheim raised their target price on shares of Tesla from $125.00 to $132.00 and gave the company a “sell” rating in a research note on Friday, December 15th. Finally, Jefferies Financial Group cut their target price on shares of Tesla from $225.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, January 29th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $204.63.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a filing with the SEC, which is available at this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,598 shares of company stock worth $36,952,434. Company insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Contravisory Investment Management Inc. acquired a new position in shares of Tesla during the third quarter worth $25,000. Wyrmwood Management LLC acquired a new position in shares of Tesla during the fourth quarter worth $25,000. Lam Group Inc. acquired a new position in shares of Tesla during the fourth quarter worth $25,000. Alpha Paradigm Partners LLC acquired a new position in shares of Tesla during the third quarter worth $27,000. Finally, Halpern Financial Inc. increased its holdings in shares of Tesla by 1,111.1% during the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 2.2 %

The company has a market capitalization of $559.85 billion, a price-to-earnings ratio of 40.79, a P/E/G ratio of 4.06 and a beta of 2.41. The firm’s fifty day moving average price is $187.78 and its 200-day moving average price is $222.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.07 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.44 earnings per share for the current fiscal year.

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.