Tesla (NASDAQ:TSLA) Trading Down 2.4% - Should You Sell?

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shares fell 2.4% on Monday . The stock traded as low as $324.70 and last traded at $329.77. 34,700,705 shares traded hands during trading, a decline of 53% from the average session volume of 74,176,313 shares. The stock had previously closed at $337.80.

Analysts Set New Price Targets

Several brokerages recently weighed in on TSLA. Mizuho reaffirmed an "outperform" rating and set a $515.00 target price on shares of Tesla in a research note on Thursday, January 30th. Truist Financial boosted their price target on shares of Tesla from $351.00 to $373.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Jefferies Financial Group boosted their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a "hold" rating in a report on Thursday, November 14th. Bank of America cut shares of Tesla from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Finally, StockNews.com cut shares of Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Ten investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $319.57.

Tesla Stock Performance

The company has a market cap of $933.44 billion, a PE ratio of 142.16, a P/E/G ratio of 5.86 and a beta of 2.34. 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 stock's 50-day simple moving average is $390.99 and its 200 day simple moving average is $315.51.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company's stock, valued at $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Tesla

Large investors have recently made changes to their positions in the stock. Swedbank AB grew its stake in Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer's stock valued at $287,457,000 after acquiring an additional 29,669 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in Tesla by 37.7% in the 3rd quarter. Pallas Capital Advisors LLC now owns 3,457 shares of the electric vehicle producer's stock valued at $900,000 after acquiring an additional 947 shares during the last quarter. GW Henssler & Associates Ltd. acquired a new stake in Tesla in the 3rd quarter valued at about $215,000. Jacobsen Capital Management grew its stake in Tesla by 19.6% in the 3rd quarter. Jacobsen Capital Management now owns 4,767 shares of the electric vehicle producer's stock valued at $1,247,000 after acquiring an additional 780 shares during the last quarter. Finally, Eagle Strategies LLC grew its stake in Tesla by 41.4% in the 3rd quarter. Eagle Strategies LLC now owns 6,780 shares of the electric vehicle producer's stock valued at $1,774,000 after acquiring an additional 1,985 shares during the last quarter. 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.