Tesla (NASDAQ:TSLA) Stock Price Down 3.8% – Should You Sell?

Tesla, Inc. (NASDAQ:TSLA)’s stock price was down 3.8% during mid-day trading on Monday . The stock traded as low as $348.26 and last traded at $348.95. Approximately 38,905,981 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 54,088,043 shares. The stock had previously closed at $362.86.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Nevada reportedly approved Tesla to deploy up to 5,000 robotaxis, providing a meaningful regulatory milestone for the company’s autonomous-driving and software ambitions. Tesla’s Robo-Taxi Expansion Takes a Leap Forward
• Positive Sentiment: Tesla will unveil its production Cybercab in Austin on September 3. The event could offer investors evidence that autonomous ride-hailing can become a major growth business, although execution remains critical. Tesla Cybercab to launch Sept. 3
• Positive Sentiment: Commentary cited encouraging robotaxi safety data and Tesla’s continued U.S. EV-market leadership, while longer-term optimism remains tied to full self-driving, energy storage, artificial intelligence and Optimus. Tesla is still a hold based on data

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. Morgan Stanley lowered their target price on Tesla from $417.00 to $400.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. UBS Group set a $460.00 price objective on shares of Tesla in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a report on Tuesday, July 21st. Citigroup reissued a “market perform” rating on shares of Tesla in a research note on Monday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, nineteen have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $401.74.

Tesla Stock Performance

The company has a quick ratio of 1.55, a current ratio of 1.94 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.38 trillion, a P/E ratio of 323.10, a price-to-earnings-growth ratio of 18.32 and a beta of 1.83. The firm’s 50-day moving average is $365.62 and its two-hundred day moving average is $387.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.17). Tesla had a return on equity of 3.82% and a net margin of 3.67%.The business had revenue of $28.24 billion for the quarter, compared to analyst estimates of $26.42 billion. During the same quarter last year, the company earned $0.33 EPS. The business’s revenue for the quarter was up 25.5% compared to the same quarter last year. As a group, research analysts expect that Tesla, Inc. will post 0.88 EPS for the current year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the transaction, the chief financial officer directly owned 22,039 shares of the company’s stock, valued at $8,864,085.80. The trade was a 10.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its stake in Tesla by 41,911.1% in the second quarter. California State Teachers Retirement System now owns 1,797,248,195 shares of the electric vehicle producer’s stock valued at $755,922,591,000 after acquiring an additional 1,792,970,163 shares during the last quarter. Vanguard Group Inc. increased its holdings in Tesla by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock valued at $116,443,762,000 after purchasing an additional 6,538,720 shares during the last quarter. State Street Corp lifted its stake in Tesla by 0.9% in the fourth quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer’s stock valued at $51,647,164,000 after buying an additional 1,080,085 shares during the period. Geode Capital Management LLC boosted its holdings in Tesla by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer’s stock worth $29,426,070,000 after buying an additional 375,946 shares during the last quarter. Finally, Norges Bank bought a new position in Tesla during the fourth quarter worth about $17,128,100,000. Institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.