Tesla (NASDAQ:TSLA) Stock Price Down 2.2% - What's Next?

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shares fell 2.2% on Friday . The company traded as low as $344.81 and last traded at $346.64. 19,923,669 shares were traded during trading, a decline of 73% from the average session volume of 73,747,266 shares. The stock had previously closed at $354.40.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TSLA. Glj Research reaffirmed a "sell" rating and set a $24.86 price target on shares of Tesla in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Tesla from $295.00 to $370.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Phillip Securities lowered shares of Tesla from a "moderate sell" rating to a "strong sell" rating in a report on Wednesday, November 13th. Piper Sandler raised their price objective on shares of Tesla from $315.00 to $500.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Finally, Jefferies Financial Group raised their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a "hold" rating in a report on Thursday, November 14th. Ten research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $319.57.

Tesla Price Performance

The company has a market capitalization of $1.06 trillion, a P/E ratio of 162.03, a P/E/G ratio of 5.86 and a beta of 2.34. The business's 50-day simple moving average is $397.52 and its 200 day simple moving average is $314.96. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company's stock, valued at $37,226,491.76. The trade was a 6.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock valued at $195,995,200 in the last quarter. Insiders own 20.70% of the company's stock.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently made changes to their positions in TSLA. Instrumental Wealth LLC increased its position in shares of Tesla by 9.4% in the fourth quarter. Instrumental Wealth LLC now owns 1,056 shares of the electric vehicle producer's stock worth $426,000 after acquiring an additional 91 shares in the last quarter. Hall Capital Management Co. Inc. purchased a new position in shares of Tesla in the fourth quarter worth approximately $764,000. Liberty Square Wealth Partners LLC purchased a new position in shares of Tesla in the fourth quarter worth approximately $864,000. Ameriflex Group Inc. purchased a new position in shares of Tesla in the fourth quarter worth approximately $1,622,000. Finally, United Advisor Group LLC increased its position in shares of Tesla by 13.3% in the fourth quarter. United Advisor Group LLC now owns 12,437 shares of the electric vehicle producer's stock worth $5,023,000 after acquiring an additional 1,463 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

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.