Tesla (NASDAQ:TSLA) Stock Price Down 0.2% - What's Next?

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shares dropped 0.2% on Friday . The company traded as low as $237.68 and last traded at $241.17. Approximately 83,173,157 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 95,997,907 shares. The stock had previously closed at $241.55.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TSLA shares. Canaccord Genuity Group restated a "buy" rating and set a $404.00 target price on shares of Tesla in a research note on Monday, March 17th. Bank of America decreased their target price on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. StockNews.com cut shares of Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $425.00 price target on shares of Tesla in a report on Thursday, April 3rd. Finally, Piper Sandler cut their price objective on Tesla from $450.00 to $400.00 and set an "overweight" rating for the company in a research report on Wednesday. Nine research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus price target of $292.18.

Tesla Trading Down 0.2 %

The stock has a market capitalization of $775.71 billion, a P/E ratio of 118.22, a P/E/G ratio of 5.86 and a beta of 2.58. The stock's 50 day moving average price is $275.67 and its 200-day moving average price is $322.33. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares of the company's stock, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction on 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 completion of the sale, the director now directly owns 477,011 shares of the company's stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after buying an additional 1,655,203 shares during the last quarter. Norges Bank acquired a new position in shares of Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC raised its stake in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 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.

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