Tesla (NASDAQ:TSLA) Stock Price Down 2.6%

Shares of Tesla, Inc. (NASDAQ:TSLA - Get Free Report) were down 2.6% during trading on Wednesday . The company traded as low as $180.40 and last traded at $181.74. Approximately 33,997,752 shares were traded during trading, a decline of 66% from the average daily volume of 100,574,820 shares. The stock had previously closed at $186.60.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. China Renaissance initiated coverage on shares of Tesla in a research note on Monday, February 26th. They issued a "hold" rating on the stock. Piper Sandler reiterated an "overweight" rating and set a $205.00 price target on shares of Tesla in a research note on Monday, April 22nd. Canaccord Genuity Group decreased their price objective on Tesla from $267.00 to $234.00 and set a "buy" rating for the company in a report on Thursday, January 25th. HSBC dropped their target price on Tesla from $138.00 to $120.00 and set a "reduce" rating on the stock in a report on Wednesday, April 24th. Finally, Roth Mkm reiterated a "neutral" rating and set a $85.00 price target on shares of Tesla in a report on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $185.90.

Tesla Price Performance

The firm has a market cap of $574.41 billion, a P/E ratio of 46.36, a PEG ratio of 4.83 and a beta of 2.41. The business's fifty day simple moving average is $170.94 and its 200-day simple moving average is $201.90. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion for the quarter, compared to analysts' expectations of $22.15 billion. As a group, analysts forecast that Tesla, Inc. will post 1.89 EPS for the current fiscal year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 687 shares of the company'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 transaction, the senior vice president now owns 63,171 shares of the company's stock, valued at $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 687 shares of the company's stock in a transaction that occurred 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 transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,097 shares of company stock worth $37,877,471. 20.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

A number of large investors have recently added to or reduced their stakes in the company. Holderness Investments Co. lifted its position in Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer's stock worth $650,000 after buying an additional 42 shares during the last quarter. SCS Capital Management LLC boosted its stake in shares of Tesla by 0.3% in the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer's stock valued at $4,224,000 after purchasing an additional 45 shares in the last quarter. Daymark Wealth Partners LLC grew its holdings in shares of Tesla by 0.4% during the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer's stock valued at $2,622,000 after purchasing an additional 45 shares during the last quarter. LCM Capital Management Inc raised its position in Tesla by 3.5% in the 3rd quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer's stock worth $344,000 after purchasing an additional 46 shares during the period. Finally, Cravens & Co Advisors LLC boosted its position in Tesla by 1.2% during the third quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer's stock valued at $1,025,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

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.