Tesla (NASDAQ:TSLA) Stock Price Down 3.3% – Time to Sell?

Tesla, Inc. (NASDAQ:TSLA) shares traded down 3.3% during trading on Wednesday . The company traded as low as $402.54 and last traded at $403.84. 76,213,586 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 94,854,445 shares. The stock had previously closed at $417.41.

Analyst Ratings Changes

TSLA has been the subject of several research analyst reports. Jefferies Financial Group upped their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Wolfe Research assumed coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Barclays raised their target price on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Canaccord Genuity Group upped their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Nine investment 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 company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $275.75.

Tesla Trading Down 6.1 %

The stock has a market capitalization of $1.22 trillion, a price-to-earnings ratio of 103.91, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a fifty day moving average of $359.54 and a two-hundred day moving average of $271.59.

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

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 514,886 shares of company stock valued at $169,393,831. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently modified their holdings of the company. Valley Wealth Managers Inc. acquired a new position in shares of Tesla in the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC increased its stake in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in Tesla in the third quarter worth about $29,000. Clean Yield Group lifted its stake in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Finally, Peterson Financial Group Inc. acquired a new stake in Tesla during the third quarter valued at approximately $35,000. 66.20% of the stock is currently owned by 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.