Tesla (NASDAQ:TSLA) Trading Down 8.6% Following Analyst Downgrade

Tesla, Inc. (NASDAQ:TSLA) dropped 8.6% during mid-day trading on Monday after UBS Group lowered their price target on the stock from $259.00 to $225.00. UBS Group currently has a sell rating on the stock. Tesla traded as low as $237.60 and last traded at $240.09. Approximately 53,467,303 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 81,670,172 shares. The stock had previously closed at $262.67.

Several other equities research analysts also recently commented on TSLA. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Wells Fargo & Company lifted their price objective on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, January 30th. Barclays upped their target price on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Morgan Stanley reaffirmed a “top pick” rating and set a $430.00 price target on shares of Tesla in a research note on Monday, March 3rd. Finally, Canaccord Genuity Group upped their price objective on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $326.31.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the sale, the director now owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 422,452 shares of company stock valued at $153,659,530. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC raised its stake in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla during the 3rd quarter valued at about $29,000. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the 3rd quarter worth approximately $35,000. Finally, GS Investments Inc. boosted its holdings in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 15.4 %

The firm has a market cap of $714.55 billion, a price-to-earnings ratio of 108.90, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The stock’s 50 day moving average is $363.87 and its 200 day moving average is $319.46. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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.