Tesla (NASDAQ:TSLA) Shares Gap Down to $147.05

Tesla, Inc. (NASDAQ:TSLA)’s share price gapped down prior to trading on Monday . The stock had previously closed at $147.05, but opened at $140.56. Tesla shares last traded at $140.25, with a volume of 51,036,515 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently commented on TSLA. Piper Sandler reiterated an “overweight” rating and issued a $205.00 price objective on shares of Tesla in a research report on Monday. Morgan Stanley lowered their price target on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Edward Jones lowered Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, April 2nd. Finally, Robert W. Baird reissued an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research note on Wednesday, April 17th. Eight analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $194.33.

Tesla Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The company has a market cap of $460.78 billion, a PE ratio of 33.57, a P/E/G ratio of 3.75 and a beta of 2.39. The company has a 50-day moving average price of $176.81 and a two-hundred day moving average price of $209.24.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 EPS. Sell-side analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after acquiring an additional 3,866,361 shares during the last quarter. Norges Bank acquired a new position in shares of Tesla in the 4th quarter valued at about $7,844,757,000. Morgan Stanley grew its position in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares during the last quarter. FMR LLC raised its stake in Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after acquiring an additional 269,182 shares during the period. Finally, Northern Trust Corp lifted its holdings in Tesla by 3.4% in the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after acquiring an additional 909,170 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

About Tesla

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.