Tesla (NASDAQ:TSLA) Stock Price Down 2.2% on Analyst Downgrade

Tesla, Inc. (NASDAQ:TSLAGet Free Report) was down 2.2% on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $218.00 to $200.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Tesla traded as low as $175.30 and last traded at $175.79. Approximately 77,654,838 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 95,391,528 shares. The stock had previously closed at $179.83.

TSLA has been the topic of a number of other research reports. Robert W. Baird reiterated an “outperform” rating and issued a $300.00 target price on shares of Tesla in a report on Thursday, January 25th. Wedbush dropped their price objective on Tesla from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday. Citigroup dropped their price objective on Tesla from $224.00 to $196.00 and set a “neutral” rating on the stock in a report on Wednesday. Truist Financial dropped their price objective on Tesla from $227.00 to $193.00 and set a “hold” rating on the stock in a report on Thursday, January 25th. Finally, The Goldman Sachs Group dropped their price objective on Tesla from $220.00 to $190.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $204.63.

View Our Latest Report on TSLA

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated 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 directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 198,598 shares of company stock worth $36,952,434. Corporate insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors have recently modified their holdings of the stock. Adirondack Trust Co. raised its stake in shares of Tesla by 31.6% in the fourth quarter. Adirondack Trust Co. now owns 5,134 shares of the electric vehicle producer’s stock worth $1,276,000 after acquiring an additional 1,232 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of Tesla by 7.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after acquiring an additional 1,943 shares during the last quarter. HighPoint Advisor Group LLC bought a new stake in shares of Tesla during the fourth quarter worth approximately $23,306,000. Fairman Group LLC bought a new stake in shares of Tesla during the fourth quarter worth approximately $486,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Tesla by 2,101.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after buying an additional 1,402,443 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The firm has a market capitalization of $559.85 billion, a P/E ratio of 40.79, a P/E/G ratio of 3.97 and a beta of 2.41. The stock’s 50 day moving average is $186.33 and its two-hundred day moving average is $221.06.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $1.07 earnings per share. As a group, equities analysts anticipate that Tesla, Inc. will post 2.44 earnings per share for the current fiscal year.

Tesla Company Profile

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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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