Tesla (NASDAQ:TSLA) Stock Price Down 2.1% on Insider Selling

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price dropped 2.1% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $271.35 and last traded at $274.50. Approximately 31,329,426 shares traded hands during trading, a decline of 67% from the average daily volume of 95,607,861 shares. The stock had previously closed at $280.26.

Specifically, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $284.40, for a total transaction of $1,137,600.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,664,580. This trade represents a 12.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total value of $32,096,336.20. Following the transaction, the director now owns 85,000 shares of the company's stock, valued at approximately $24,274,300. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Raymond James lowered shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Guggenheim reissued a "sell" rating and set a $170.00 price target on shares of Tesla in a report on Thursday, April 24th. Piper Sandler reiterated an "overweight" rating on shares of Tesla in a research note on Tuesday, April 22nd. Cantor Fitzgerald decreased their target price on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, HSBC reduced their price objective on Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research report on Thursday, March 27th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $287.46.

Tesla Stock Down 1.8 %

The stock's 50 day moving average is $258.60 and its 200 day moving average is $326.33. The company has a market capitalization of $886.46 billion, a PE ratio of 134.87, a PEG ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

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 (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the prior year, the company earned $0.45 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Tesla during the fourth quarter valued at about $14,420,248,000. FMR LLC lifted its holdings in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the period. GAMMA Investing LLC grew its position in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after buying an additional 9,776,607 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after buying an additional 5,719,466 shares during the period. 66.20% of the stock is owned by institutional investors.

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.

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