Tesla (NASDAQ:TSLA) Stock Price Down 0.5%

Tesla, Inc. (NASDAQ:TSLA)’s stock price was down 0.5% on Thursday . The stock traded as low as $173.15 and last traded at $173.90. Approximately 21,109,664 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 102,906,930 shares. The stock had previously closed at $174.72.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. The Goldman Sachs Group dropped their price target on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Redburn Atlantic started coverage on Tesla in a report on Wednesday, January 24th. They set a “sell” rating and a $170.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Mizuho decreased their price objective on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Finally, Morgan Stanley dropped their target price on Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $185.90.

Tesla Stock Performance

The stock’s 50-day moving average price is $172.57 and its 200 day moving average price is $204.11. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company has a market cap of $548.45 billion, a P/E ratio of 43.87, a price-to-earnings-growth ratio of 4.74 and a beta of 2.41.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 302,803 shares of company stock worth $56,124,840. Company insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

Institutional investors and hedge funds have recently modified their holdings of the company. Holderness Investments Co. lifted its holdings in shares of Tesla by 1.6% during the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after acquiring an additional 42 shares during the period. SCS Capital Management LLC boosted its holdings in Tesla by 0.3% during the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after purchasing an additional 45 shares in the last quarter. Daymark Wealth Partners LLC lifted its position in shares of Tesla by 0.4% during the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after buying an additional 45 shares during the period. ML & R Wealth Management LLC raised its stake in Tesla by 2.6% during the third quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock worth $455,000 after acquiring an additional 46 shares in the last quarter. Finally, LCM Capital Management Inc boosted its stake in shares of Tesla by 3.5% in the 3rd quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer’s stock valued at $344,000 after purchasing an additional 46 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

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.