Tesla (NASDAQ:TSLA) Stock Price Down 1.5%

Tesla, Inc. (NASDAQ:TSLA)’s stock price traded down 1.5% on Wednesday . The company traded as low as $153.78 and last traded at $154.72. 29,159,865 shares were traded during trading, a decline of 71% from the average session volume of 101,150,414 shares. The stock had previously closed at $157.11.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Tesla from $200.00 to $189.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Jefferies Financial Group reduced their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Morgan Stanley reduced their target price on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Daiwa Capital Markets cut shares of Tesla from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday, April 2nd. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $198.81.

Tesla Trading Down 0.9 %

The company’s 50 day simple moving average is $180.88 and its two-hundred day simple moving average is $213.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The company has a market cap of $495.90 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 4.25 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the previous year, the business posted $1.07 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.98 EPS for the current fiscal year.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,098 shares of company stock valued at $38,802,534. 20.90% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

Several hedge funds have recently added to or reduced their stakes in TSLA. Norges Bank acquired a new stake in Tesla in the fourth quarter valued at approximately $7,844,757,000. Moneta Group Investment Advisors LLC raised its holdings in Tesla by 180,125.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after purchasing an additional 26,836,879 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Tesla by 203.9% during the third quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after purchasing an additional 13,558,882 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after purchasing an additional 6,179,032 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Tesla by 26.3% during the fourth quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock worth $3,132,119,000 after purchasing an additional 5,292,464 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.