Tesla (NASDAQ:TSLA) Trading Down 2.8% – Time to Sell?

Tesla, Inc. (NASDAQ:TSLA)’s share price traded down 2.8% during mid-day trading on Wednesday . The stock traded as low as $326.59 and last traded at $328.86. 26,671,825 shares traded hands during trading, a decline of 72% from the average session volume of 95,329,430 shares. The stock had previously closed at $338.23.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. William Blair began coverage on shares of Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a report on Thursday, October 24th. Bank of America lifted their price target on shares of Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada lifted their target price on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $231.06.

Tesla Stock Down 1.6 %

The firm has a market cap of $1.07 trillion, a P/E ratio of 91.20, a P/E/G ratio of 10.81 and a beta of 2.29. The firm’s fifty day moving average is $272.41 and its 200 day moving average is $230.60. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 earnings per share. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock valued at $92,956,692 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

Large investors have recently modified their holdings of the stock. Bank & Trust Co acquired a new stake in Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla during the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC increased its stake in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new position in Tesla in the third quarter valued at approximately $29,000. Finally, Clean Yield Group raised its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.