Tesla (NASDAQ:TSLA) Stock Price Down 2% – Time to Sell?

Tesla, Inc. (NASDAQ:TSLA)’s share price traded down 2% during trading on Tuesday . The company traded as low as $340.44 and last traded at $341.63. 49,989,006 shares were traded during mid-day trading, a decline of 51% from the average session volume of 101,330,159 shares. The stock had previously closed at $348.68.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Mizuho raised their price objective on shares of Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Piper Sandler reiterated an “overweight” rating and set a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Barclays lowered their price target on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Finally, HSBC decreased their price objective on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday, March 27th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $294.58.

Tesla Stock Performance

The firm has a market cap of $1.10 trillion, a price-to-earnings ratio of 188.13, a P/E/G ratio of 12.05 and a beta of 2.47. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average of $308.14 and a 200 day moving average of $331.42.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the business posted $0.45 EPS. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director now owns 85,000 shares in the company, valued at $23,300,200. The trade was a 56.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, April 7th. 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 owns 26,950 shares of the company’s stock, valued at $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the last quarter. Geode Capital Management LLC increased its holdings in Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. Norges Bank acquired a new position in Tesla during the 4th quarter worth about $14,420,248,000. FMR LLC grew its position in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.