Tesla (NASDAQ:TSLA) Shares Down 7.2% - Here's Why

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) shares traded down 7.2% during mid-day trading on Monday . The stock traded as low as $288.77 and last traded at $292.77. 62,333,368 shares were traded during trading, a decline of 38% from the average session volume of 100,795,543 shares. The stock had previously closed at $315.35.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSLA. Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday, June 9th. Morgan Stanley restated an "overweight" rating and issued a $410.00 target price on shares of Tesla in a report on Friday, June 6th. Barclays decreased their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Deutsche Bank Aktiengesellschaft lowered their price target on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $301.13.

Tesla Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The firm's fifty day simple moving average is $321.21 and its 200 day simple moving average is $323.29. The firm has a market cap of $959.23 billion, a P/E ratio of 163.63, a P/E/G ratio of 8.57 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 EPS. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 829,509 shares of company stock valued at $277,648,925 in the last 90 days. Company insiders own 20.70% of the company's stock.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. First National Corp MA ADV increased its stake in Tesla by 8.1% in the 2nd quarter. First National Corp MA ADV now owns 2,194 shares of the electric vehicle producer's stock worth $697,000 after buying an additional 165 shares during the period. FF Advisors LLC raised its stake in shares of Tesla by 8.9% during the second quarter. FF Advisors LLC now owns 1,025 shares of the electric vehicle producer's stock valued at $326,000 after acquiring an additional 84 shares in the last quarter. Everpar Advisors LLC lifted its position in shares of Tesla by 8.4% during the second quarter. Everpar Advisors LLC now owns 9,127 shares of the electric vehicle producer's stock valued at $2,899,000 after buying an additional 708 shares during the last quarter. Elevation Wealth Partners LLC raised its stake in shares of Tesla by 3.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 8,807 shares of the electric vehicle producer's stock worth $2,798,000 after acquiring an additional 316 shares in the last quarter. Finally, Juncture Wealth Strategies LLC lifted its holdings in shares of Tesla by 25.0% during the 2nd quarter. Juncture Wealth Strategies LLC now owns 1,694 shares of the electric vehicle producer's stock valued at $538,000 after purchasing an additional 339 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.