Tesla (NASDAQ:TSLA) Shares Down 2% – What’s Next?

Tesla, Inc. (NASDAQ:TSLA)’s stock price traded down 2% during trading on Monday . The stock traded as low as $282.65 and last traded at $279.37. 56,421,569 shares changed hands during trading, a decline of 41% from the average session volume of 95,828,756 shares. The stock had previously closed at $284.95.

Analysts Set New Price Targets

Several research analysts have recently commented on TSLA shares. Deutsche Bank Aktiengesellschaft cut their price objective on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday, March 28th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Bank of America decreased their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company reduced their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $287.46.

Tesla Stock Down 1.7 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market capitalization of $900.83 billion, a PE ratio of 137.36, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The company’s fifty day moving average is $263.98 and its 200-day moving average is $323.61.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the prior year, the firm posted $0.45 earnings per share. As a group, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock worth $123,791,123 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Hedge funds and other institutional investors have recently modified their holdings of the business. Horizon Financial Services LLC lifted its position in shares of Tesla by 14,547.8% during the first quarter. Horizon Financial Services LLC now owns 3,369 shares of the electric vehicle producer’s stock worth $873,000 after purchasing an additional 3,346 shares during the last quarter. Equita Financial Network Inc. lifted its holdings in Tesla by 4.9% during the 1st quarter. Equita Financial Network Inc. now owns 894 shares of the electric vehicle producer’s stock valued at $232,000 after buying an additional 42 shares in the last quarter. American Capital Advisory LLC boosted its position in Tesla by 3.9% in the 1st quarter. American Capital Advisory LLC now owns 1,200 shares of the electric vehicle producer’s stock valued at $311,000 after buying an additional 45 shares during the period. Krane Funds Advisors LLC grew its stake in Tesla by 20.8% in the 1st quarter. Krane Funds Advisors LLC now owns 11,370 shares of the electric vehicle producer’s stock worth $2,947,000 after acquiring an additional 1,960 shares in the last quarter. Finally, Aaron Wealth Advisors LLC increased its position in shares of Tesla by 4.8% during the first quarter. Aaron Wealth Advisors LLC now owns 14,047 shares of the electric vehicle producer’s stock worth $3,640,000 after acquiring an additional 637 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Company Profile

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.