Tesla (NASDAQ:TSLA) Trading Down 2.3% After Analyst Downgrade

Tesla, Inc. (NASDAQ:TSLA) shares fell 2.3% on Thursday after Deutsche Bank Aktiengesellschaft downgraded the stock from a buy rating to a hold rating. Deutsche Bank Aktiengesellschaft now has a $123.00 price target on the stock, down from their previous price target of $189.00. Tesla traded as low as $148.70 and last traded at $151.91. 40,563,556 shares were traded during mid-day trading, a decline of 60% from the average session volume of 101,070,063 shares. The stock had previously closed at $155.45.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company dropped their target price on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research report on Friday, April 12th. Citigroup dropped their target price on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Wedbush dropped their target price on shares of Tesla from $315.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, March 28th. Piper Sandler dropped their target price on shares of Tesla from $225.00 to $205.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group lowered their price objective on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. Ten research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $194.70.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 in the last ninety days. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors have recently made changes to their positions in the stock. Wyrmwood Management LLC acquired a new stake in Tesla during the fourth quarter valued at approximately $25,000. Lam Group Inc. acquired a new stake in Tesla during the fourth quarter valued at approximately $25,000. Alpha Paradigm Partners LLC acquired a new stake in Tesla during the third quarter valued at approximately $27,000. MayTech Global Investments LLC acquired a new stake in Tesla during the fourth quarter valued at approximately $30,000. Finally, Mendota Financial Group LLC lifted its stake in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 1.9 %

The firm has a market capitalization of $468.32 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 4.11 and a beta of 2.39. The firm’s 50 day moving average is $178.51 and its 200 day moving average is $211.48. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same period in the prior year, the company earned $1.07 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities analysts forecast that Tesla, Inc. will post 1.97 earnings per share for the current year.

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.