Tesla (NASDAQ:TSLA) Shares Down 1.8% – Time to Sell?

Tesla, Inc. (NASDAQ:TSLA)’s stock price dropped 1.8% on Friday. The stock traded as low as $385.83 and last traded at $390.22. Approximately 31,975,174 shares changed hands during trading, a decline of 36% from the average session volume of 49,757,094 shares. The stock had previously closed at $397.45.

Latest Tesla News

Here’s some of the latest news about TSLA:

• Positive Sentiment: Potential SpaceX merger: Bloomberg reports that Tesla and SpaceX are progressing in talks, with an announcement possible as early as December, though it could slip into 2027. Investors may see the combination as a major strategic opportunity, but terms and timing remain unknown. SpaceX and Tesla Talks on Record Merger Are Said to Progress
• Positive Sentiment: Autonomy and FSD progress: Tesla’s robotaxi service reportedly operates around the clock in its active cities, and Finland has granted provisional approval for its driver-assistance system. These developments could strengthen the case for future growth in autonomous rides and software, though wider adoption and profitability are not assured. Is Tesla Stock Worth Buying Now on Robotaxi & FSD Progress?
• Negative Sentiment: Valuation and analyst caution: Tesla’s valuation leaves little room for disappointment, and GLJ Research reaffirmed its sell rating. Concerns about rising costs and regulatory barriers to robotaxi and FSD expansion also weigh on the investment case. Robotaxi and FSD Progress and Risks

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TSLA shares. DZ Bank upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Stifel Nicolaus set a $475.00 price objective on Tesla in a research note on Thursday, October 22nd. Monness Crespi & Hardt began coverage on Tesla in a research report on Monday, October 26th. They issued a “buy” rating for the company. BNP Paribas Exane upgraded Tesla from an “underperform” rating to a “neutral” rating and increased their target price for the company from $266.00 to $420.00 in a research note on Thursday, October 22nd. Finally, Citigroup reiterated a “neutral” rating on shares of Tesla in a report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, seventeen have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $414.51.

Tesla Stock Down 1.8%

The firm has a 50 day moving average price of $374.47 and a two-hundred day moving average price of $383.25. The company has a quick ratio of 1.39, a current ratio of 1.74 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 428.82, a P/E/G ratio of 24.21 and a beta of 1.74.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Tesla had a return on equity of 3.03% and a net margin of 3.11%. The business had revenue of $28.05 billion for the quarter, compared to analyst estimates of $28.06 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The company’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, sell-side analysts expect that Tesla, Inc. will post 0.67 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total transaction of $938,498.78. Following the sale, the chief financial officer directly owned 25,972 shares in the company, valued at $9,353,296.36. The trade was a 9.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 20.00% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

Hedge funds have recently made changes to their positions in the stock. State Street Corp grew its stake in Tesla by 1.1% in the 3rd quarter. State Street Corp now owns 118,773,869 shares of the electric vehicle producer’s stock valued at $42,142,156,000 after buying an additional 1,317,113 shares in the last quarter. Amundi lifted its position in shares of Tesla by 14.0% during the first quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer’s stock worth $8,243,513,000 after acquiring an additional 2,727,141 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Tesla during the second quarter worth $8,535,612,000. Bank of New York Mellon Corp bought a new position in shares of Tesla in the second quarter worth $6,083,630,000. Finally, Bamco Inc. NY boosted its holdings in shares of Tesla by 5.0% in the second quarter. Bamco Inc. NY now owns 12,524,752 shares of the electric vehicle producer’s stock worth $5,267,911,000 after acquiring an additional 591,243 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Company Profile

Tesla, Inc. designs, develops, manufactures and sells electric vehicles and energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y and Cybertruck, along with related software and services. The company also provides energy generation and storage products, including solar systems, Powerwall home batteries and Megapack utility-scale storage. Its services include vehicle maintenance, charging through the Supercharger network and software features for its vehicles. Founded in 2003 and headquartered in Austin, Texas, Tesla serves customers in markets around the world.