Tesla (NASDAQ:TSLA) Shares Down 0.3% – What’s Next?

Tesla, Inc. (NASDAQ:TSLA)’s share price traded down 0.3% on Tuesday . The company traded as low as $413.70 and last traded at $416.07. 25,868,197 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 94,643,047 shares. The stock had previously closed at $417.41.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TSLA. Glj Research reissued a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research report on Thursday, October 17th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Wolfe Research initiated coverage on shares of Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Barclays raised their price objective on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $272.06.

Tesla Trading Down 3.3 %

The stock has a fifty day moving average of $357.16 and a two-hundred day moving average of $270.84. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.30 trillion, a PE ratio of 110.64, a PEG ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating 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 firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 514,886 shares of company stock valued at $169,393,831 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. SK Wealth Management LLC acquired a new stake in shares of Tesla in the 3rd quarter worth $504,000. SMART Wealth LLC purchased a new stake in Tesla during the 3rd quarter worth approximately $208,000. DGS Capital Management LLC raised its holdings in shares of Tesla by 17.3% in the third quarter. DGS Capital Management LLC now owns 3,804 shares of the electric vehicle producer’s stock worth $995,000 after buying an additional 560 shares during the last quarter. Oriental Harbor Investment Fund acquired a new stake in shares of Tesla during the third quarter worth $14,700,000. Finally, Inspire Trust Co. N.A. increased its position in shares of Tesla by 23.3% in the 3rd quarter. Inspire Trust Co. N.A. now owns 8,200 shares of the electric vehicle producer’s stock valued at $2,145,000 after acquiring an additional 1,548 shares during the period. 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.