Tesla (NASDAQ:TSLA) Trading Down 2.5% Following Analyst Downgrade

Tesla, Inc. (NASDAQ:TSLA)’s share price fell 2.5% during trading on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $420.00 to $345.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Tesla traded as low as $260.79 and last traded at $266.27. 49,743,609 shares changed hands during trading, a decline of 46% from the average session volume of 92,204,285 shares. The stock had previously closed at $273.13.

Several other analysts also recently commented on TSLA. Bank of America reduced their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Cantor Fitzgerald raised shares of Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price target for the company in a research note on Wednesday, March 19th. Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Mizuho reduced their target price on Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Finally, Glj Research reaffirmed a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $318.34.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by company insiders.

Institutional Trading of Tesla

Institutional investors have recently modified their holdings of the business. True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 31 shares during the period. Horrell Capital Management Inc. boosted its stake in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. grew its holdings in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares in the last quarter. Navigoe LLC bought a new stake in shares of Tesla during the fourth quarter valued at about $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the fourth quarter worth about $38,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

The business’s 50-day moving average price is $321.33 and its 200 day moving average price is $321.68. The company has a market capitalization of $847.71 billion, a P/E ratio of 129.19, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. 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 announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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 anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.