Tesla (NASDAQ:TSLA) Trading Down 2.2% – Here’s What Happened

Shares of Tesla, Inc. (NASDAQ:TSLA) fell 2.2% on Friday . The stock 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.

Analysts Set New Price Targets

Several equities research analysts have commented on TSLA shares. UBS Group upped their price objective on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research report on Thursday, January 30th. Guggenheim reissued a “sell” rating and set a $175.00 price target on shares of Tesla in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, January 30th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Finally, Piper Sandler raised their target price on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $319.57.

Tesla Stock Down 4.7 %

The firm’s fifty day simple moving average is $400.17 and its two-hundred day simple moving average is $313.18. 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 capitalization of $1.09 trillion, a price-to-earnings ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. True Wealth Design LLC grew its position in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the third quarter valued at approximately $29,000. Horrell Capital Management Inc. grew its holdings in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in Tesla during the 3rd quarter worth approximately $35,000. Finally, GS Investments Inc. lifted its holdings in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares in the last quarter. 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.