Tesla (NASDAQ:TSLA) Stock Price Down 1.5% – Time to Sell?

by · The Cerbat Gem

Tesla, Inc. (NASDAQ:TSLA – Get Free Report)’s stock price traded down 1.5% during trading on Tuesday . The stock traded as low as $385.22 and last traded at $386.42. 50,121,384 shares changed hands during trading, a decline of 21% from the average session volume of 63,246,422 shares. The stock had previously closed at $392.50.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group lifted their price target on shares of Tesla from $420.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank Of Canada lowered their price target on shares of Tesla from $480.00 to $475.00 and set an “outperform” rating for the company in a research report on Thursday. China Renaissance lifted their price target on shares of Tesla from $380.00 to $382.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Tesla in a research report on Wednesday. Finally, William Blair reiterated a “market perform” rating on shares of Tesla in a research report on Friday, January 2nd. Eighteen analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $399.70.

Get Our Latest Research Report on Tesla

Tesla Stock Down 3.6%

The firm’s 50 day moving average is $387.63 and its two-hundred day moving average is $421.62. The firm has a market cap of $1.40 trillion, a P/E ratio of 346.04, a price-to-earnings-growth ratio of 12.22 and a beta of 1.91. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The business had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same quarter last year, the firm earned $0.27 EPS. Tesla’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, research analysts anticipate that Tesla, Inc. will post 1.37 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,264 shares of Tesla stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $397.03, for a total value of $898,875.92. Following the transaction, the chief financial officer owned 18,106 shares of the company’s stock, valued at approximately $7,188,625.18. The trade was a 11.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 25,809 shares of Tesla stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $359.33, for a total transaction of $9,273,947.97. Following the completion of the transaction, the director directly owned 33,860 shares in the company, valued at approximately $12,166,913.80. The trade was a 43.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,804 shares of company stock worth $20,865,598 in the last three months. 19.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TSLA. Brighton Jones LLC lifted its stake in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares during the last quarter. Bison Wealth LLC raised its holdings in shares of Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Tesla by 9.1% in the second quarter. Sivia Capital Partners LLC now owns 12,135 shares of the electric vehicle producer’s stock valued at $3,855,000 after purchasing an additional 1,011 shares during the last quarter. Finally, AGP Franklin LLC raised its holdings in shares of Tesla by 21.2% in the second quarter. AGP Franklin LLC now owns 4,861 shares of the electric vehicle producer’s stock valued at $1,544,000 after purchasing an additional 851 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

About Tesla

(Get Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

Read More