Tesla (NASDAQ:TSLA) Stock Price Down 1.2% - Should You Sell?

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price traded down 1.2% during trading on Thursday . The stock traded as low as $335.28 and last traded at $338.08. 26,280,305 shares traded hands during trading, a decline of 73% from the average session volume of 95,691,031 shares. The stock had previously closed at $342.03.

Analyst Ratings Changes

Several brokerages have issued reports on TSLA. Glj Research reaffirmed a "sell" rating and issued a $24.86 target price on shares of Tesla in a report on Thursday, October 17th. Wedbush reiterated an "outperform" rating and set a $400.00 target price on shares of Tesla in a research report on Monday. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Thursday, October 24th. StockNews.com upgraded Tesla from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Finally, HSBC restated a "reduce" rating and issued a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $230.18.

Tesla Price Performance

The company has a 50 day simple moving average of $259.42 and a 200 day simple moving average of $224.12. The company has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 92.62, a price-to-earnings-growth ratio of 11.24 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla's quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. As a group, research analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company's stock, valued at $36,761,200. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock valued at $92,956,692 over the last 90 days. 20.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

Large investors have recently made changes to their positions in the business. Transcendent Capital Group LLC bought a new position in shares of Tesla during the 3rd quarter valued at about $29,000. Bank & Trust Co purchased a new stake in Tesla during the second quarter valued at about $25,000. Clean Yield Group lifted its stake in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after buying an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC lifted its stake in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock valued at $26,000 after buying an additional 81 shares in the last quarter. Finally, Valley Wealth Managers Inc. purchased a new stake in Tesla during the second quarter valued at about $26,000. Institutional investors own 66.20% of the company's stock.

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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