Tesla (NASDAQ:TSLA) Trading Down 0% – Here’s Why

Tesla, Inc. (NASDAQ:TSLA)’s share price dropped 0% during trading on Tuesday . The company traded as low as $382.13 and last traded at $383.64. 19,663,325 shares were traded during trading, a decline of 73% from the average session volume of 73,648,320 shares. The stock had previously closed at $383.68.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. Mizuho reaffirmed an “outperform” rating and issued a $515.00 price target on shares of Tesla in a research note on Thursday, January 30th. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group upped their price objective on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Finally, HSBC restated a “reduce” rating and set a $124.00 target price on shares of Tesla in a report on Friday, October 11th. Nine research analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $318.31.

Tesla Price Performance

The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $407.11 and its two-hundred day moving average price is $302.26. The company has a market cap of $1.20 trillion, a P/E ratio of 183.49, a P/E/G ratio of 6.79 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts expect that Tesla, Inc. will post 2.82 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 672,776 shares of company stock valued at $242,149,822 in the last quarter. Insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after purchasing an additional 1,022,589 shares during the period. FMR LLC raised its holdings in Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after buying an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tesla by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock worth $6,996,871,000 after buying an additional 780,026 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after acquiring an additional 1,294,093 shares in the last quarter. Institutional investors and hedge funds 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.