Tesla (NASDAQ:TSLA) Trading Down 2.5% on Analyst Downgrade

Shares of Tesla, Inc. (NASDAQ:TSLA) dropped 2.5% on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $420.00 to $345.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Tesla traded as low as $260.79 and last traded at $266.27. Approximately 49,743,609 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 92,204,285 shares. The stock had previously closed at $273.13.

Several other analysts have also recently weighed in on the stock. Barclays raised their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Truist Financial increased their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Wedbush reaffirmed an “outperform” rating and issued a $550.00 target price on shares of Tesla in a research note on Thursday. Finally, Morgan Stanley decreased their price target on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Nine investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $318.34.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

A number of large investors have recently added to or reduced their stakes in the stock. Hengehold Capital Management LLC grew its holdings in shares of Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after acquiring an additional 24 shares during the period. Strategic Investment Advisors MI grew its stake in shares of Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after purchasing an additional 24 shares during the period. Acropolis Investment Management LLC grew its stake in shares of Tesla by 0.9% during the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after purchasing an additional 25 shares during the period. Mount Vernon Associates Inc. MD increased its position in shares of Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after purchasing an additional 25 shares during the last quarter. Finally, Vista Finance LLC lifted its stake in shares of Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after purchasing an additional 25 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

The company has a market cap of $847.71 billion, a PE ratio of 129.19, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average is $321.33 and its 200-day moving average is $321.68.

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

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.