Tesla (NASDAQ:TSLA) Stock Price Down 4.4% After Analyst Downgrade

Tesla, Inc. (NASDAQ:TSLA) was down 4.4% during mid-day trading on Tuesday after Evercore ISI lowered their price target on the stock from $155.00 to $145.00. Evercore ISI currently has an in-line rating on the stock. Tesla traded as low as $185.15 and last traded at $185.58. Approximately 48,332,160 shares changed hands during trading, a decline of 54% from the average daily volume of 104,358,398 shares. The stock had previously closed at $194.05.

A number of other research firms also recently issued reports on TSLA. Sanford C. Bernstein decreased their price objective on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, March 26th. Wells Fargo & Company reduced their target price on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research note on Friday, April 12th. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a research note on Wednesday, April 17th. Canaccord Genuity Group reduced their target price on shares of Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research note on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $184.32.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 in the last quarter. Insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently made changes to their positions in TSLA. Wyrmwood Management LLC purchased a new stake in Tesla during the 4th quarter valued at $25,000. Lam Group Inc. purchased a new stake in Tesla during the 4th quarter valued at $25,000. Mendota Financial Group LLC boosted its position in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the 4th quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. boosted its position in Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 1.8 %

The firm has a market cap of $574.02 billion, a PE ratio of 45.92, a PEG ratio of 5.28 and a beta of 2.39. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The company’s 50-day simple moving average is $174.41 and its two-hundred day simple moving average is $206.11.

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.