Tesla (NASDAQ:TSLA) Stock Price Down 4.5% – Here’s What Happened

Tesla, Inc. (NASDAQ:TSLA)’s share price was down 4.5% during trading on Monday . The stock traded as low as $374.36 and last traded at $386.27. Approximately 44,735,951 shares were traded during trading, a decline of 39% from the average daily volume of 73,700,914 shares. The stock had previously closed at $404.60.

Analysts Set New Price Targets

A number of research analysts have issued reports on TSLA shares. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and boosted their target price for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Robert W. Baird lowered their target price on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a research note on Thursday. Piper Sandler lifted their price target on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group increased their price objective on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Finally, StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday. Nine analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $318.31.

Tesla Stock Performance

The company’s fifty day simple moving average is $404.22 and its two-hundred day simple moving average is $299.70. 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 has a market capitalization of $1.23 trillion, a P/E ratio of 187.99, a PEG ratio of 6.79 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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 forecast that Tesla, Inc. will post 2.82 EPS for the current year.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $300.37, for a total value of $2,402,960.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $31,548,461.84. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 553,386 shares of company stock worth $196,305,796. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the last quarter. Strategic Financial Concepts LLC grew its position in Tesla by 36,790.0% in the fourth 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 acquiring an additional 8,637,195 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after acquiring an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Tesla by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.