Tesla (NASDAQ:TSLA) Shares Down 2.9%

Tesla, Inc. (NASDAQ:TSLA) shares traded down 2.9% during mid-day trading on Tuesday . The company traded as low as $153.75 and last traded at $156.73. 46,021,121 shares were traded during mid-day trading, a decline of 55% from the average session volume of 101,451,383 shares. The stock had previously closed at $161.48.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. TD Cowen lowered their price target on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Robert W. Baird lowered their price target on Tesla from $300.00 to $280.00 and set an “outperform” rating for the company in a report on Tuesday, April 2nd. Truist Financial lowered their price target on Tesla from $193.00 to $176.00 and set a “hold” rating for the company in a report on Wednesday, April 3rd. Sanford C. Bernstein lowered their price target on Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, March 26th. Finally, Edward Jones downgraded Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $198.81.

Tesla Price Performance

The stock has a fifty day moving average of $181.44 and a two-hundred day moving average of $213.70. The stock has a market cap of $498.48 billion, a price-to-earnings ratio of 36.36, a price-to-earnings-growth ratio of 4.50 and a beta of 2.40. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same period in the prior year, the company earned $1.07 EPS. The company’s revenue was up 3.5% on a year-over-year basis. On average, equities research analysts anticipate that Tesla, Inc. will post 1.98 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 over the last quarter. Company insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wyrmwood Management LLC purchased a new stake in Tesla during the 4th quarter worth about $25,000. Lam Group Inc. purchased a new stake in Tesla in the 4th quarter valued at about $25,000. Alpha Paradigm Partners LLC purchased a new stake in Tesla in the 3rd quarter valued at about $27,000. MayTech Global Investments LLC purchased a new stake in Tesla in the 4th quarter valued at about $30,000. Finally, Perkins Coie Trust Co grew its holdings in Tesla by 72.0% in the 3rd quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 54 shares during the period. Hedge funds and other institutional investors 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.