Tesla (NASDAQ:TSLA) Shares Down 6.4% After Analyst Downgrade

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) was down 6.4% during trading on Tuesday after Robert W. Baird lowered their price target on the stock from $300.00 to $280.00. Robert W. Baird currently has an outperform rating on the stock. Tesla traded as low as $163.43 and last traded at $164.09. Approximately 56,496,926 shares were traded during trading, a decline of 44% from the average daily volume of 101,533,063 shares. The stock had previously closed at $175.22.

TSLA has been the subject of a number of other reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $298.00 price target on shares of Tesla in a research note on Wednesday, March 27th. Oppenheimer reissued a "market perform" rating on shares of Tesla in a research note on Tuesday. Truist Financial cut their price objective on Tesla from $227.00 to $193.00 and set a "hold" rating on the stock in a research note on Thursday, January 25th. TD Cowen cut their price objective on Tesla from $200.00 to $180.00 and set a "market perform" rating on the stock in a research note on Thursday, January 25th. Finally, Guggenheim raised their price objective on Tesla from $125.00 to $132.00 and gave the company a "sell" rating in a research note on Friday, December 15th. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $203.89.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the business's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company's stock, valued at approximately $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company's stock, valued at approximately $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the business's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. Insiders have sold a total of 198,598 shares of company stock valued at $36,952,434 in the last 90 days. 20.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Institutional investors have recently bought and sold shares of the business. Contravisory Investment Management Inc. bought a new stake in shares of Tesla during the third quarter worth $25,000. Wyrmwood Management LLC bought a new stake in shares of Tesla during the fourth quarter worth $25,000. Lam Group Inc. bought a new stake in shares of Tesla during the fourth quarter worth $25,000. Halpern Financial Inc. raised its position in shares of Tesla by 1,111.1% during the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 100 shares during the last quarter. Finally, Alpha Paradigm Partners LLC bought a new stake in shares of Tesla during the third quarter worth $27,000. Institutional investors own 66.20% of the company's stock.

Tesla Stock Down 4.9 %

The business has a fifty day moving average of $185.65 and a 200 day moving average of $219.67. The firm has a market cap of $530.68 billion, a P/E ratio of 38.66, a P/E/G ratio of 3.97 and a beta of 2.40. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 EPS. On average, equities research analysts predict that Tesla, Inc. will post 2.44 EPS for the current year.

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.