Tesla (NASDAQ:TSLA) Shares Gap Down to $161.48

Shares of Tesla, Inc. (NASDAQ:TSLA - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $161.48, but opened at $156.74. Tesla shares last traded at $154.50, with a volume of 22,952,401 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Robert W. Baird reduced their price objective on shares of Tesla from $300.00 to $280.00 and set an "outperform" rating for the company in a research report on Tuesday, April 2nd. Mizuho reissued a "neutral" rating and issued a $195.00 price target (down previously from $270.00) on shares of Tesla in a research report on Monday, March 25th. Truist Financial reduced their price target on shares of Tesla from $193.00 to $176.00 and set a "hold" rating for the company in a research report on Wednesday, April 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $298.00 price target on shares of Tesla in a research report on Wednesday, March 27th. Finally, UBS Group reduced their price target on shares of Tesla from $225.00 to $165.00 and set a "neutral" rating for the company in a research report on Thursday, March 14th. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus price target of $198.81.

Tesla Stock Down 2.7 %

The stock has a 50 day moving average of $180.88 and a 200-day moving average of $213.04. The firm has a market capitalization of $500.36 billion, a P/E ratio of 36.45, a PEG ratio of 4.50 and a beta of 2.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. The company's revenue was up 3.5% on a year-over-year basis. Research analysts predict that Tesla, Inc. will post 1.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company's stock, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company's stock, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 687 shares of the business's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares of the company's stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 in the last quarter. 20.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TSLA. Norges Bank bought a new stake in Tesla in the 4th quarter worth approximately $7,844,757,000. Moneta Group Investment Advisors LLC lifted its position in Tesla by 180,125.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer's stock worth $3,307,602,000 after buying an additional 26,836,879 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Tesla by 203.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer's stock worth $5,360,358,000 after buying an additional 13,558,882 shares during the last quarter. International Assets Investment Management LLC lifted its position in Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer's stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the last quarter. Finally, Morgan Stanley lifted its position in Tesla by 26.3% in the 4th quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer's stock worth $3,132,119,000 after buying an additional 5,292,464 shares during 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.