Tesla (NASDAQ:TSLA) Stock Price Down 1.1% – Should You Sell?

Tesla, Inc. (NASDAQ:TSLA)’s stock price dropped 1.1% on Wednesday . The stock traded as low as $294.23 and last traded at $299.35. Approximately 34,588,477 shares were traded during trading, a decline of 54% from the average daily volume of 75,851,633 shares. The stock had previously closed at $302.80.

Analyst Ratings Changes

A number of brokerages have commented on TSLA. Mizuho reissued an “outperform” rating and issued a $515.00 price objective on shares of Tesla in a research note on Thursday, January 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research note on Tuesday, February 18th. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a report on Monday, February 10th. Wells Fargo & Company lifted their price objective on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, January 30th. Finally, New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research report on Monday, January 6th. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $319.57.

Tesla Stock Down 2.3 %

The stock has a market capitalization of $951.91 billion, a price-to-earnings ratio of 145.20, a price-to-earnings-growth 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 firm has a 50-day moving average of $393.98 and a 200 day moving average of $315.69.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate 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 anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 523,386 shares of company stock valued at $195,995,200. Company insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after buying an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank purchased a new stake in Tesla in the fourth quarter worth about $14,420,248,000. FMR LLC boosted its holdings in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after buying an additional 5,075,418 shares during 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.