Tesla (NASDAQ:TSLA) Shares Down 1.3% – What’s Next?

Shares of Tesla, Inc. (NASDAQ:TSLA) traded down 1.3% during mid-day trading on Monday . The stock traded as low as $393.39 and last traded at $401.13. 24,700,736 shares were traded during trading, a decline of 66% from the average session volume of 73,531,305 shares. The stock had previously closed at $406.58.

Analyst Ratings Changes

A number of equities analysts have recently commented on TSLA shares. Canaccord Genuity Group lifted their price target on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Wedbush upped their price target on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Evercore ISI lifted their price objective on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Piper Sandler raised their price target on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $313.84.

Tesla Trading Up 0.3 %

The firm has a 50-day moving average price of $401.04 and a 200-day moving average price of $296.63. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.28 trillion, a PE ratio of 109.13, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 617,886 shares of company stock worth $212,451,751 over the last three months. 20.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hengehold Capital Management LLC boosted its stake in Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after purchasing an additional 24 shares during the period. Strategic Investment Advisors MI boosted its position in shares of Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after acquiring an additional 24 shares during the period. Acropolis Investment Management LLC grew its stake in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after acquiring an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD increased its holdings in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares during the period. Finally, Prospect Financial Services LLC lifted its stake in Tesla by 0.3% in the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock worth $3,029,000 after purchasing an additional 26 shares in the last quarter. 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.