Tesla (NASDAQ:TSLA) Trading Down 0.5%

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price traded down 0.5% during mid-day trading on Thursday . The company traded as low as $173.15 and last traded at $173.90. 21,109,664 shares changed hands during trading, a decline of 79% from the average session volume of 102,906,930 shares. The stock had previously closed at $174.72.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their target price on shares of Tesla from $190.00 to $175.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 9th. Redburn Atlantic began coverage on Tesla in a research report on Wednesday, January 24th. They set a "sell" rating and a $170.00 target price for the company. Morgan Stanley dropped their price target on Tesla from $320.00 to $310.00 and set an "overweight" rating for the company in a research note on Thursday, April 4th. Citigroup lifted their price objective on shares of Tesla from $180.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, April 24th. Finally, Truist Financial dropped their target price on shares of Tesla from $176.00 to $162.00 and set a "hold" rating for the company in a research report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $185.90.

Tesla Stock Down 1.6 %

The business's 50-day moving average is $172.57 and its 200-day moving average is $204.11. The company has a market capitalization of $548.45 billion, a price-to-earnings ratio of 43.87, a P/E/G ratio of 4.74 and a beta of 2.41. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,705 shares of the firm's stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the firm's stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares of the company's stock, valued at approximately $2,772,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company's stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders have sold a total of 302,803 shares of company stock valued at $56,124,840 over the last ninety days. Company insiders own 20.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TSLA. Norges Bank purchased a new position in Tesla during the fourth quarter worth about $7,844,757,000. International Assets Investment Management LLC raised 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 valued at $1,541,273,000 after purchasing an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer's stock valued at $57,102,287,000 after buying an additional 3,866,361 shares during the period. California Public Employees Retirement System increased its stake in shares of Tesla by 34.0% during the third quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer's stock worth $2,260,039,000 after buying an additional 2,293,344 shares during the period. Finally, Morgan Stanley increased its position in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer's stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other 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.

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