Tesla (NASDAQ:TSLA) Shares Down 0.4% – Should You Sell?

Tesla, Inc. (NASDAQ:TSLA)’s share price dropped 0.4% during trading on Tuesday . The stock traded as low as $217.12 and last traded at $218.29. Approximately 30,501,604 shares traded hands during trading, a decline of 68% from the average daily volume of 94,872,063 shares. The stock had previously closed at $219.16.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $230.00 target price on shares of Tesla in a research report on Friday, October 11th. Stifel Nicolaus assumed coverage on Tesla in a research report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price on the stock. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research report on Friday, July 5th. HSBC reissued a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $210.72.

Tesla Trading Down 0.2 %

The stock has a market cap of $705.66 billion, a PE ratio of 61.78, 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. The stock has a fifty day moving average price of $226.81 and a 200 day moving average price of $204.69.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 EPS. Equities analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 in the last quarter. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently made changes to their positions in TSLA. Integris Wealth Management LLC raised its position in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its position in shares of 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 worth $800,000 after acquiring an additional 43 shares in the last quarter. Echo Wealth Management LLC raised its position in shares of Tesla by 0.7% in the 2nd 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 in the last quarter. WASHINGTON TRUST Co raised its position in shares of Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after acquiring an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC raised its position in shares of Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after acquiring an additional 45 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.