Shares of Tesla, Inc. (NASDAQ:TSLA - Get Free Report) dropped 3.2% during mid-day trading on Monday . The stock traded as low as $335.18 and last traded at $335.29. Approximately 35,211,655 shares changed hands during trading, a decline of 64% from the average daily volume of 97,920,716 shares. The stock had previously closed at $346.46.
Wall Street Analysts Forecast Growth
TSLA has been the topic of several recent analyst reports. UBS Group decreased their price objective on shares of Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Canaccord Genuity Group lowered their price objective on Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Raymond James lowered Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a research note on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $293.97.
Check Out Our Latest Stock Analysis on TSLA
Tesla Trading Down 14.3%
The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business's 50-day moving average price is $291.12 and its 200-day moving average price is $334.34. The firm has a market capitalization of $916.94 billion, a PE ratio of 139.55, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47.
Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data 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). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the company earned $0.45 EPS. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Insider Activity
In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 870,721 shares of company stock worth $286,248,728 over the last ninety days. 20.70% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Tesla
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Tesla in the 4th quarter worth approximately $14,420,248,000. Goldman Sachs Group Inc. lifted its holdings in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new position in Tesla in the 1st quarter valued at about $3,247,619,000. FMR LLC increased its holdings in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. Finally, GAMMA Investing LLC increased 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 purchasing an additional 9,776,607 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.
About Tesla
(
Get Free Report)
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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