Tesla (NASDAQ:TSLA) Trading Down 1.5%

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shares dropped 1.5% during mid-day trading on Wednesday . The stock traded as low as $153.78 and last traded at $154.72. Approximately 29,159,865 shares changed hands during trading, a decline of 71% from the average daily volume of 101,150,414 shares. The stock had previously closed at $157.11.

Wall Street Analyst Weigh In

TSLA has been the topic of several research reports. Piper Sandler lowered their price target on Tesla from $225.00 to $205.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 10th. KGI Securities reiterated a "neutral" rating and issued a $213.00 price objective (down from $309.00) on shares of Tesla in a research note on Thursday, January 25th. JPMorgan Chase & Co. lowered their price objective on Tesla from $130.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 3rd. HSBC lowered their price objective on Tesla from $143.00 to $138.00 and set a "reduce" rating on the stock in a research note on Wednesday, April 3rd. Finally, Citigroup lowered their price objective on Tesla from $196.00 to $180.00 and set a "neutral" rating on the stock in a research note on Friday, April 12th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $197.15.

Tesla Stock Performance

The firm has a fifty day simple moving average of $180.24 and a 200-day simple moving average of $212.64. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The stock has a market cap of $495.08 billion, a price-to-earnings ratio of 36.07, a P/E/G ratio of 4.25 and a beta of 2.39.

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

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company's stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,098 shares of company stock worth $38,802,534. Insiders own 20.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSLA. Axiom Financial Strategies LLC lifted its holdings in Tesla by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer's stock worth $777,000 after acquiring an additional 81 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Tesla by 19.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer's stock worth $1,079,672,000 after acquiring an additional 164,789 shares in the last quarter. MAS Advisors LLC lifted its holdings in Tesla by 25.7% during the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer's stock worth $433,000 after acquiring an additional 81 shares in the last quarter. Ergoteles LLC lifted its holdings in shares of Tesla by 33.4% in the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer's stock valued at $3,844,000 after purchasing an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Tesla by 6.8% in the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer's stock valued at $77,767,000 after purchasing an additional 4,593 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

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.