Tesla (NASDAQ:TSLA) Shares Down 4.5% – What’s Next?

Tesla, Inc. (NASDAQ:TSLA)’s stock price was down 4.5% during trading on Monday . The company traded as low as $374.36 and last traded at $386.27. Approximately 44,735,951 shares changed hands during trading, a decline of 39% from the average daily volume of 73,700,914 shares. The stock had previously closed at $404.60.

Analyst Ratings Changes

A number of research analysts recently commented on TSLA shares. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and raised their price objective for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Barclays increased their price target on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $365.00 price objective on shares of Tesla in a report on Wednesday, January 29th. Finally, StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $318.31.

Tesla Trading Down 3.6 %

The company’s 50 day simple moving average is $406.20 and its two-hundred day simple moving average is $301.73. The company has a market capitalization of $1.22 trillion, a price-to-earnings ratio of 185.38, a P/E/G ratio of 6.79 and a beta of 2.34. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results 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%. As a group, research analysts anticipate that Tesla, Inc. will post 2.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $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 sold 553,386 shares of company stock worth $196,305,796 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds have recently modified their holdings of TSLA. Geode Capital Management LLC increased its holdings in shares of Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after purchasing an additional 1,022,589 shares in the last quarter. FMR LLC increased its holdings in Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after buying an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Tesla by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after acquiring an additional 301,968 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after purchasing an additional 1,294,093 shares in 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.