Tesla (NASDAQ:TSLA) Shares Down 0.3% – Should You Sell?

Shares of Tesla, Inc. (NASDAQ:TSLA) were down 0.3% during mid-day trading on Friday . The company traded as low as $219.23 and last traded at $220.24. Approximately 17,091,541 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 94,205,664 shares. The stock had previously closed at $220.89.

Analyst Ratings Changes

TSLA has been the subject of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Friday, October 11th. Guggenheim boosted their target price on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Royal Bank of Canada raised their price target on Tesla from $224.00 to $236.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Canaccord Genuity Group restated a “buy” rating and issued a $254.00 price objective on shares of Tesla in a report on Friday, September 13th. Finally, Barclays reduced their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $210.72.

Tesla Trading Down 0.1 %

The business’s 50 day moving average price is $227.67 and its 200-day moving average price is $205.39. The company has a market cap of $703.86 billion, a price-to-earnings ratio of 56.30, a PEG ratio of 5.94 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company earned $0.78 EPS. On average, research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock worth $16,663,291 in the last 90 days. 25.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TSLA. Integris Wealth Management LLC grew its holdings in shares of Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc increased its position in Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after acquiring an additional 43 shares in the last quarter. Echo Wealth Management LLC raised its stake in shares of Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after acquiring an additional 44 shares during the last quarter. WASHINGTON TRUST Co lifted its position in shares of Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC grew its stake in shares of Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.