Tesla (NASDAQ:TSLA) Shares Down 0.7%

Tesla, Inc. (NASDAQ:TSLAGet Free Report)’s stock price dropped 0.7% on Thursday . The company traded as low as $172.73 and last traded at $173.77. Approximately 22,509,458 shares were traded during trading, a decline of 77% from the average daily volume of 97,444,984 shares. The stock had previously closed at $175.00.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TSLA. Sanford C. Bernstein dropped their price target on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 target price on shares of Tesla in a report on Wednesday, April 17th. Morgan Stanley dropped their price target on Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Finally, China Renaissance started coverage on Tesla in a research report on Monday, February 26th. They set a “hold” rating on the stock. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $185.90.

View Our Latest Stock Analysis on Tesla

Tesla Trading Down 0.3 %

The company has a market capitalization of $566.02 billion, a price-to-earnings ratio of 45.28, a price-to-earnings-growth ratio of 4.41 and a beta of 2.32. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $172.18 and its two-hundred day simple moving average is $197.76.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Research analysts forecast that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. In the last three months, insiders sold 198,560 shares of company stock worth $35,725,248. 25.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Institutional investors have recently bought and sold shares of the company. WealthPlan Investment Management LLC increased its stake in Tesla by 20,641.9% in the 3rd quarter. WealthPlan Investment Management LLC now owns 12,860 shares of the electric vehicle producer’s stock valued at $3,218,000 after buying an additional 12,798 shares during the last quarter. Burney Co. boosted its position in Tesla by 4.9% during the third quarter. Burney Co. now owns 5,960 shares of the electric vehicle producer’s stock valued at $1,491,000 after purchasing an additional 278 shares during the last quarter. Blair William & Co. IL grew its stake in Tesla by 3.8% in the third quarter. Blair William & Co. IL now owns 229,864 shares of the electric vehicle producer’s stock valued at $57,516,000 after purchasing an additional 8,354 shares in the last quarter. Innovis Asset Management LLC acquired a new position in shares of Tesla during the 3rd quarter worth approximately $2,145,000. Finally, Wescott Financial Advisory Group LLC raised its stake in shares of Tesla by 4.5% during the 3rd quarter. Wescott Financial Advisory Group LLC now owns 2,233 shares of the electric vehicle producer’s stock worth $559,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

(Get Free Report)

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.

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