Tesla (NASDAQ:TSLA) Trading Down 0.3% – Should You Sell?

Tesla, Inc. (NASDAQ:TSLA)’s stock price dropped 0.3% during trading on Tuesday . The stock traded as low as $413.70 and last traded at $416.07. 25,868,197 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 94,643,047 shares. The stock had previously closed at $417.41.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays increased their target price on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Wells Fargo & Company raised their price objective on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Finally, KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $272.06.

Tesla Trading Down 1.9 %

The business has a 50-day moving average of $349.64 and a two-hundred day moving average of $268.31. 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 firm has a market capitalization of $1.31 trillion, a price-to-earnings ratio of 112.20, a P/E/G ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 earnings per share. Research analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 514,886 shares of company stock valued at $169,393,831. Corporate insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Hedge funds have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the third quarter valued at approximately $29,000. Clean Yield Group lifted its holdings in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC boosted its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the 2nd quarter valued at $26,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Tesla during the third quarter worth $35,000. Institutional investors own 66.20% of the company’s stock.

About Tesla

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.