Tesla (NASDAQ:TSLA) Stock Price Down 4.4% Following Analyst Downgrade

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s share price traded down 4.4% during mid-day trading on Tuesday after Evercore ISI lowered their price target on the stock from $155.00 to $145.00. Evercore ISI currently has an in-line rating on the stock. Tesla traded as low as $185.15 and last traded at $185.58. 48,332,160 shares changed hands during trading, a decline of 54% from the average session volume of 104,358,398 shares. The stock had previously closed at $194.05.

Other research analysts have also issued reports about the company. Royal Bank of Canada cut their price objective on Tesla from $294.00 to $293.00 and set an "outperform" rating on the stock in a report on Wednesday, April 24th. JPMorgan Chase & Co. cut their price target on shares of Tesla from $130.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 3rd. Sanford C. Bernstein decreased their price objective on shares of Tesla from $150.00 to $120.00 and set an "underperform" rating for the company in a research note on Tuesday, March 26th. HSBC reduced their target price on shares of Tesla from $138.00 to $120.00 and set a "reduce" rating for the company in a report on Wednesday, April 24th. Finally, Mizuho lowered their price target on shares of Tesla from $195.00 to $180.00 and set a "neutral" rating on the stock in a report on Wednesday, April 24th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $184.32.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,706 shares of the firm's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the business's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. In the last three months, insiders sold 209,098 shares of company stock worth $38,802,534. Corporate insiders own 20.90% of the company's stock.

Institutional Investors Weigh In On Tesla

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wyrmwood Management LLC acquired a new stake in shares of Tesla in the 4th quarter worth $25,000. Lam Group Inc. acquired a new stake in Tesla during the fourth quarter worth about $25,000. Mendota Financial Group LLC increased its position in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer's stock worth $34,000 after purchasing an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in Tesla during the fourth quarter worth about $37,000. Finally, Kathleen S. Wright Associates Inc. boosted its holdings in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer's stock valued at $47,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Price Performance

The firm has a market cap of $584.52 billion, a price-to-earnings ratio of 46.76, a P/E/G ratio of 4.45 and a beta of 2.40. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock's fifty day moving average price is $174.71 and its 200-day moving average price is $206.29.

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.