Tesla (NASDAQ:TSLA) Stock Price Down 0.4%

Tesla, Inc. (NASDAQ:TSLAGet Free Report)’s share price fell 0.4% on Tuesday . The stock traded as low as $174.00 and last traded at $175.65. 27,429,248 shares were traded during trading, a decline of 72% from the average session volume of 98,189,523 shares. The stock had previously closed at $176.29.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. HSBC decreased their target price on Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research report on Wednesday, April 24th. Wells Fargo & Company dropped their target price on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a report on Friday, April 12th. Piper Sandler reiterated an “overweight” rating and issued a $205.00 price target on shares of Tesla in a research note on Monday, April 22nd. The Goldman Sachs Group dropped their price objective on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $185.90.

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Tesla Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The stock has a 50-day moving average price of $172.26 and a two-hundred day moving average price of $198.89. The stock has a market cap of $559.45 billion, a PE ratio of 44.81, a price-to-earnings-growth ratio of 4.37 and a beta of 2.32.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Sell-side analysts forecast that Tesla, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,597 shares of company stock worth $35,733,686. Insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares in the last quarter. Norges Bank acquired a new position in Tesla in the 4th quarter worth about $7,844,757,000. Morgan Stanley grew its holdings in Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. FMR LLC increased its position in shares of Tesla by 0.9% in the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after buying an additional 269,182 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Tesla by 3.4% during the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after buying an additional 909,170 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

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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.

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