Tesla (NASDAQ:TSLA) Trading Down 4.4% After Analyst Downgrade

Tesla, Inc. (NASDAQ:TSLA)’s stock price was down 4.4% on Tuesday after Evercore ISI lowered their price target on the stock from $155.00 to $145.00. Evercore ISI currently has an in-line rating on the stock. Tesla traded as low as $185.15 and last traded at $185.58. Approximately 48,332,160 shares changed hands during trading, a decline of 54% from the average daily volume of 104,358,398 shares. The stock had previously closed at $194.05.

Several other analysts also recently weighed in on the company. Canaccord Genuity Group decreased their price objective on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Wednesday, April 24th. KGI Securities reaffirmed a “neutral” rating and issued a $213.00 price target (down previously from $309.00) on shares of Tesla in a report on Thursday, January 25th. Morgan Stanley reduced their price objective on Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Tesla in a report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $184.32.

Insider Buying and Selling

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently made changes to their positions in the company. Vest Financial LLC acquired a new position in Tesla in the first quarter valued at approximately $634,000. Naples Global Advisors LLC lifted its holdings in shares of Tesla by 34.0% in the 1st quarter. Naples Global Advisors LLC now owns 4,815 shares of the electric vehicle producer’s stock worth $846,000 after purchasing an additional 1,222 shares during the last quarter. Navis Wealth Advisors LLC grew its stake in Tesla by 35.6% during the 1st quarter. Navis Wealth Advisors LLC now owns 1,525 shares of the electric vehicle producer’s stock worth $268,000 after buying an additional 400 shares during the last quarter. M3 Advisory Group LLC increased its position in Tesla by 30.4% in the first quarter. M3 Advisory Group LLC now owns 2,880 shares of the electric vehicle producer’s stock worth $506,000 after buying an additional 672 shares during the period. Finally, Investment Advisory Group LLC lifted its stake in Tesla by 4.1% in the first quarter. Investment Advisory Group LLC now owns 6,104 shares of the electric vehicle producer’s stock valued at $1,073,000 after buying an additional 239 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 5.1 %

The firm’s fifty day moving average price is $174.92 and its 200-day moving average price is $206.77. The company has a market cap of $587.16 billion, a price-to-earnings ratio of 47.34, a P/E/G ratio of 4.45 and a beta of 2.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

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.