Tesla (NASDAQ:TSLA) Shares Down 3.7% – What’s Next?

Shares of Tesla, Inc. (NASDAQ:TSLA) fell 3.7% during mid-day trading on Friday . The stock traded as low as $426.50 and last traded at $437.23. 33,652,819 shares traded hands during trading, a decline of 65% from the average session volume of 94,838,969 shares. The stock had previously closed at $454.13.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TSLA. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Wedbush reaffirmed an “outperform” rating and issued a $400.00 price objective on shares of Tesla in a research note on Monday, November 18th. HSBC reissued a “reduce” rating and set a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Finally, Wolfe Research started coverage on shares of Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $272.06.

Tesla Price Performance

The stock has a market cap of $1.39 trillion, a P/E ratio of 118.26, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business’s 50-day simple moving average is $345.67 and its two-hundred day simple moving average is $266.03.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the firm earned $0.53 EPS. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 514,886 shares of company stock worth $169,393,831. 20.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the 3rd quarter worth $29,000. Clean Yield Group boosted its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC increased its position in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the 2nd quarter valued at about $26,000. Finally, Peterson Financial Group Inc. bought a new stake in Tesla in the 3rd quarter worth approximately $35,000. 66.20% of the stock is currently owned by 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.