Tesla, Inc. (NASDAQ:TSLA - Get Free Report) traded down 6.5% during trading on Thursday after an insider sold shares in the company. The company traded as low as $252.80 and last traded at $254.47. 49,477,834 shares were traded during mid-day trading, a decline of 48% from the average session volume of 95,194,686 shares. The stock had previously closed at $272.20.
Specifically, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on TSLA shares. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and upped their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Truist Financial reduced their price objective on Tesla from $373.00 to $280.00 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. Royal Bank of Canada dropped their target price on Tesla from $440.00 to $320.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Evercore ISI boosted their price objective on Tesla from $195.00 to $275.00 and gave the company an "in-line" rating in a research report on Friday, January 3rd. Finally, Wedbush cut their target price on shares of Tesla from $550.00 to $315.00 and set an "outperform" rating on the stock in a report on Monday, April 7th. Eight analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Tesla has an average rating of "Hold" and an average target price of $298.59.
Check Out Our Latest Stock Analysis on Tesla
Tesla Trading Down 2.0 %
The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $795.41 billion, a P/E ratio of 121.22, a PEG ratio of 5.86 and a beta of 2.58. The stock's 50 day moving average is $285.19 and its 200-day moving average is $323.57.
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 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%. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. Destination Wealth Management grew its stake in shares of Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock worth $3,296,000 after acquiring an additional 1,359 shares during the period. Stephens Consulting LLC grew its position in Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock worth $644,000 after purchasing an additional 891 shares during the period. Worth Asset Management LLC raised its stake in Tesla by 383.1% during the 4th quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer's stock valued at $3,358,000 after buying an additional 6,593 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. lifted its holdings in shares of Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock valued at $1,150,000 after buying an additional 1,629 shares during the period. Finally, Ameritas Advisory Services LLC boosted its stake in shares of Tesla by 104.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer's stock worth $23,242,000 after buying an additional 29,458 shares during the last quarter. 66.20% of the stock is owned by institutional investors.
About Tesla
(
Get Free Report)
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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