Tesla (NASDAQ:TSLA) Shares Down 1.5% - What's Next?

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price was down 1.5% on Tuesday . The stock traded as low as $279.47 and last traded at $281.48. Approximately 43,343,777 shares were traded during trading, a decline of 55% from the average daily volume of 95,987,382 shares. The stock had previously closed at $285.88.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TSLA shares. Piper Sandler reissued an "overweight" rating on shares of Tesla in a research report on Tuesday, April 22nd. Mizuho reduced their price objective on Tesla from $375.00 to $325.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. StockNews.com cut shares of Tesla from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Barclays decreased their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Finally, Roth Mkm dropped their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $287.46.

Tesla Stock Down 0.4 %

The company has a fifty day moving average price of $262.49 and a 200-day moving average price of $324.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market capitalization of $915.68 billion, a PE ratio of 139.57, a PEG ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 374,228 shares of company stock worth $123,791,123. Insiders own 20.70% 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 the business. Hengehold Capital Management LLC increased its holdings in shares of Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock valued at $544,000 after acquiring an additional 24 shares during the period. Strategic Investment Advisors MI raised its stake in shares of Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock worth $2,823,000 after acquiring an additional 24 shares in the last quarter. Acropolis Investment Management LLC lifted its position in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer's stock valued at $1,136,000 after acquiring an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD boosted its stake in Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer's stock valued at $2,950,000 after acquiring an additional 25 shares in the last quarter. Finally, Vista Finance LLC lifted its holdings in shares of Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock valued at $1,417,000 after purchasing an additional 25 shares during 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.

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