Tesla (NASDAQ:TSLA) Trading Down 4% – Should You Sell?

Tesla, Inc. (NASDAQ:TSLA) shares fell 4% during mid-day trading on Tuesday . The stock traded as low as $338.20 and last traded at $338.59. 95,890,899 shares were traded during trading, an increase of 0% from the average session volume of 95,798,258 shares. The stock had previously closed at $352.56.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TSLA. Royal Bank of Canada boosted their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Roth Mkm reiterated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research note on Friday, October 11th. Canaccord Genuity Group boosted their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley restated an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $231.06.

Tesla Stock Down 1.6 %

The company has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 91.20, a PEG ratio of 11.00 and a beta of 2.29. The stock’s fifty day simple moving average is $270.63 and its two-hundred day simple moving average is $229.89. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the company earned $0.53 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock valued at $92,956,692 in the last quarter. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Connable Office Inc. grew its position in Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after buying an additional 38 shares in the last quarter. Community Bank N.A. grew its position in Tesla by 4.4% in the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after buying an additional 38 shares in the last quarter. Holistic Financial Partners grew its position in Tesla by 1.0% in the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after buying an additional 40 shares in the last quarter. Integris Wealth Management LLC boosted its position in shares of Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares in the last quarter. Finally, Sherrill & Hutchins Financial Advisory Inc boosted its position in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

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.