Tesla (NASDAQ:TSLA) Stock Price Down 2.6%

Tesla, Inc. (NASDAQ:TSLA) shares dropped 2.6% during mid-day trading on Wednesday . The company traded as low as $180.40 and last traded at $181.74. Approximately 33,997,752 shares were traded during trading, a decline of 66% from the average daily volume of 100,574,820 shares. The stock had previously closed at $186.60.

Analyst Upgrades and Downgrades

Several analysts recently commented on TSLA shares. Evercore ISI reduced their price target on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday, April 29th. Piper Sandler reissued an “overweight” rating and set a $205.00 price target on shares of Tesla in a report on Monday, April 22nd. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Citigroup boosted their target price on Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price target on shares of Tesla in a report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $185.90.

Tesla Price Performance

The company’s 50 day simple moving average is $171.38 and its 200 day simple moving average is $201.55. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $559.80 billion, a PE ratio of 44.32, a PEG ratio of 4.42 and a beta of 2.41.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. On average, equities analysts anticipate that Tesla, Inc. will post 1.89 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. Over the last three months, insiders sold 209,097 shares of company stock worth $37,877,471. 25.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Several institutional investors and hedge funds have recently modified their holdings of TSLA. Wyrmwood Management LLC acquired a new stake in shares of Tesla during the fourth quarter valued at about $25,000. Lam Group Inc. acquired a new stake in Tesla during the 4th quarter valued at approximately $25,000. Mendota Financial Group LLC raised its position in shares of Tesla by 202.2% in the 4th 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 in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla during the 4th quarter valued at about $37,000. Finally, Kathleen S. Wright Associates Inc. lifted its holdings in Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.