Tesla (NASDAQ:TSLA) Trading Down 2.3% Following Analyst Downgrade

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price traded down 2.3% during trading on Thursday after Deutsche Bank Aktiengesellschaft downgraded the stock from a buy rating to a hold rating. Deutsche Bank Aktiengesellschaft now has a $123.00 price target on the stock, down from their previous price target of $189.00. Tesla traded as low as $148.70 and last traded at $151.91. 40,563,556 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 101,070,063 shares. The stock had previously closed at $155.45.

Several other equities analysts also recently commented on TSLA. Morgan Stanley dropped their price objective on shares of Tesla from $320.00 to $310.00 and set an "overweight" rating for the company in a research note on Thursday, April 4th. Piper Sandler dropped their price objective on shares of Tesla from $225.00 to $205.00 and set an "overweight" rating for the company in a research note on Wednesday, April 10th. Truist Financial decreased 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. Wells Fargo & Company decreased their price target on shares of Tesla from $125.00 to $120.00 and set an "underweight" rating for the company in a research report on Friday, April 12th. Finally, Barclays decreased their price target on shares of Tesla from $225.00 to $180.00 and set an "equal weight" rating for the company in a research report on Wednesday. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $194.70.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the firm's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company's stock, valued at $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 firm's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Wyrmwood Management LLC bought a new position in shares of Tesla during the fourth quarter valued at about $25,000. Lam Group Inc. bought a new position in shares of Tesla during the fourth quarter valued at about $25,000. Alpha Paradigm Partners LLC bought a new position in shares of Tesla during the third quarter valued at about $27,000. MayTech Global Investments LLC bought a new position in shares of Tesla during the fourth quarter valued at about $30,000. Finally, Perkins Coie Trust Co lifted its position in shares of Tesla by 72.0% during the third quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 54 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The business's 50-day moving average is $179.45 and its two-hundred day moving average is $212.21. The company has a market capitalization of $477.50 billion, a P/E ratio of 34.79, a price-to-earnings-growth ratio of 4.15 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share 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 for the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. As a group, analysts predict that Tesla, Inc. will post 1.97 earnings per share for the current year.

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.