Tesla (NASDAQ:TSLA) Shares Down 2.4% – Should You Sell?

Tesla, Inc. (NASDAQ:TSLA)’s stock price dropped 2.4% during trading on Thursday . The company traded as low as $348.00 and last traded at $352.03. Approximately 20,097,038 shares traded hands during trading, a decline of 73% from the average daily volume of 74,627,320 shares. The stock had previously closed at $360.56.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $365.00 price target on shares of Tesla in a research report on Wednesday, January 29th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research report on Thursday, October 24th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $440.00 target price on shares of Tesla in a report on Thursday, January 30th. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $326.50.

Tesla Stock Down 2.1 %

The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 172.93, a P/E/G ratio of 5.86 and a beta of 2.34. 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 stock’s 50-day moving average price is $403.41 and its 200-day moving average price is $311.13.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction 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 owns 85,000 shares in the company, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 in the last quarter. 20.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tesla

A number of hedge funds have recently bought and sold shares of TSLA. Swedbank AB boosted its holdings in shares of Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after buying an additional 29,669 shares during the last quarter. Eastern Bank lifted its holdings in Tesla by 65.2% during the third quarter. Eastern Bank now owns 7,655 shares of the electric vehicle producer’s stock valued at $2,003,000 after purchasing an additional 3,020 shares during the last quarter. Leo Wealth LLC lifted its holdings in Tesla by 5.7% during the third quarter. Leo Wealth LLC now owns 4,691 shares of the electric vehicle producer’s stock valued at $1,227,000 after purchasing an additional 251 shares during the last quarter. Waldron Private Wealth LLC lifted its holdings in Tesla by 7.6% during the third quarter. Waldron Private Wealth LLC now owns 16,380 shares of the electric vehicle producer’s stock valued at $4,286,000 after purchasing an additional 1,152 shares during the last quarter. Finally, RBA Wealth Management LLC lifted its holdings in Tesla by 3.3% during the third quarter. RBA Wealth Management LLC now owns 3,271 shares of the electric vehicle producer’s stock valued at $856,000 after purchasing an additional 103 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.