Tesla (NASDAQ:TSLA) Shares Down 4.6%

Shares of Tesla, Inc. (NASDAQ:TSLA) dropped 4.6% during mid-day trading on Monday . The stock traded as low as $138.80 and last traded at $140.25. Approximately 51,036,515 shares traded hands during trading, a decline of 49% from the average daily volume of 100,943,016 shares. The stock had previously closed at $147.05.

Analyst Ratings Changes

Several research firms recently commented on TSLA. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective on shares of Tesla in a research report on Monday. Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research report on Wednesday. Robert W. Baird reissued an “outperform” rating and issued a $280.00 target price on shares of Tesla in a research report on Wednesday, April 17th. Jefferies Financial Group cut their target price on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Finally, Citigroup decreased their price target on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Eight 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. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $191.37.

Tesla Trading Up 1.9 %

The firm’s 50-day simple moving average is $176.81 and its 200 day simple moving average is $209.24. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The firm has a market capitalization of $460.78 billion, a price-to-earnings ratio of 33.57, a P/E/G ratio of 3.75 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same period in the previous year, the firm posted $1.07 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,098 shares of company stock valued at $38,802,534. 20.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. Wyrmwood Management LLC acquired a new position in shares of Tesla during the 4th quarter valued at $25,000. Lam Group Inc. bought a new position in shares of Tesla during the 4th quarter worth about $25,000. Mendota Financial Group LLC grew its stake in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV increased its position in Tesla by 94.5% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new position in Tesla during the 4th quarter worth approximately $37,000. Institutional investors own 66.20% of the company’s stock.

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.