Tesla (NASDAQ:TSLA) Stock Price Down 3.4% – Time to Sell?

Tesla, Inc. (NASDAQ:TSLA)’s share price was down 3.4% on Tuesday . The company traded as low as $391.20 and last traded at $397.15. Approximately 33,351,793 shares traded hands during trading, a decline of 58% from the average daily volume of 79,524,617 shares. The stock had previously closed at $411.05.

Wall Street Analyst Weigh In

TSLA has been the topic of several research analyst reports. Guggenheim upped their target price on Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research report on Thursday, December 5th. Piper Sandler increased their price target on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Canaccord Genuity Group lifted their price objective on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday. Finally, StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $295.69.

Tesla Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market capitalization of $1.27 trillion, a P/E ratio of 108.15, a PEG ratio of 10.80 and a beta of 2.30. The business has a 50-day moving average price of $365.34 and a 200 day moving average price of $276.00.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS 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 analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’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 value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 514,886 shares of company stock valued at $169,393,831. Insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Transcendent Capital Group LLC bought a new position in shares of Tesla during the 3rd quarter valued at $29,000. Clean Yield Group lifted its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC boosted its position in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the 2nd quarter valued at about $26,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Tesla during the 3rd quarter valued at about $35,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.