Tesla (NASDAQ:TSLA) Stock Price Down 2.2% – Time to Sell?

Tesla, Inc. (NASDAQ:TSLA)’s share price was down 2.2% on Friday . The stock traded as low as $344.81 and last traded at $346.64. Approximately 19,923,669 shares traded hands during trading, a decline of 73% from the average daily volume of 73,747,266 shares. The stock had previously closed at $354.40.

Analyst Ratings Changes

Several research firms recently weighed in on TSLA. UBS Group boosted their price objective on shares of Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research report on Thursday, January 30th. Piper Sandler increased their price target on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Canaccord Genuity Group boosted their price target on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Morgan Stanley increased their price objective on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Wednesday, February 12th. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $326.50.

Tesla Stock Performance

The company has a market cap of $1.09 trillion, a PE ratio of 165.98, a P/E/G ratio of 5.97 and a beta of 2.34. The business has a fifty day moving average of $402.14 and a 200-day moving average of $311.43. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Swedbank AB increased its position in Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares during the period. Courier Capital LLC acquired a new stake in shares of Tesla in the third quarter worth approximately $262,000. Wallington Asset Management LLC purchased a new position in shares of Tesla in the third quarter worth about $280,000. RAM Investment Partners LLC lifted its stake in shares of Tesla by 1.4% in the third quarter. RAM Investment Partners LLC now owns 4,108 shares of the electric vehicle producer’s stock worth $1,075,000 after buying an additional 58 shares in the last quarter. Finally, McAdam LLC lifted its stake in shares of Tesla by 1.4% in the third quarter. McAdam LLC now owns 7,232 shares of the electric vehicle producer’s stock worth $1,892,000 after buying an additional 100 shares in 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.