Tesla (NASDAQ:TSLA) Trading Down 3% – What’s Next?

Tesla, Inc. (NASDAQ:TSLA)’s stock price fell 3% during mid-day trading on Monday . The stock traded as low as $415.75 and last traded at $418.57. 27,858,910 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 94,767,969 shares. The stock had previously closed at $431.66.

Wall Street Analyst Weigh In

Several research analysts have commented on TSLA shares. UBS Group raised their price objective on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a report on Monday, November 25th. Piper Sandler upped their price objective on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Bank of America raised their price target on shares of Tesla from $350.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Canaccord Genuity Group boosted their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $272.06.

Tesla Price Performance

The stock’s fifty day moving average price is $353.36 and its 200-day moving average price is $269.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a market cap of $1.30 trillion, a PE ratio of 110.64, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 514,886 shares of company stock worth $169,393,831. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Several institutional investors and hedge funds have recently bought and sold shares of TSLA. Geode Capital Management LLC boosted its position in shares of Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after purchasing an additional 1,022,589 shares during the period. FMR LLC boosted its position in shares of Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after buying an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Tesla by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after purchasing an additional 301,968 shares during the period. Finally, Jennison Associates LLC raised its position in Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after purchasing an additional 1,294,093 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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.