Tesla (NASDAQ:TSLA) Trading Down 8.1% – Time to Sell?

Tesla, Inc. (NASDAQ:TSLA)’s share price traded down 8.1% during trading on Tuesday . The company traded as low as $301.41 and last traded at $303.84. 53,415,715 shares were traded during trading, a decline of 28% from the average session volume of 74,668,773 shares. The stock had previously closed at $330.53.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. Canaccord Genuity Group raised their target price on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Mizuho reissued an “outperform” rating and issued a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Piper Sandler lifted their price target on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a report on Tuesday, February 18th. Finally, Guggenheim restated a “sell” rating on shares of Tesla in a report on Tuesday. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $319.57.

Tesla Trading Down 8.0 %

The stock has a market capitalization of $977.98 billion, a PE ratio of 148.88, a P/E/G ratio of 5.86 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average price of $397.52 and a 200-day moving average price of $314.96.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

Hedge funds have recently made changes to their positions in the business. True Wealth Design LLC grew its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in Tesla during the third quarter valued at $29,000. Horrell Capital Management Inc. increased its holdings in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in Tesla in the 3rd quarter worth $35,000. Finally, GS Investments Inc. lifted its stake in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. 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.