Tesla (NASDAQ:TSLA) Shares Down 1.1% – Time to Sell?

Tesla, Inc. (NASDAQ:TSLA)’s share price was down 1.1% on Monday . The stock traded as low as $213.74 and last traded at $215.41. Approximately 36,009,980 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 94,943,219 shares. The stock had previously closed at $217.80.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TSLA shares. New Street Research cut Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research report on Wednesday, July 24th. HSBC reaffirmed a “reduce” rating and issued a $124.00 price target on shares of Tesla in a report on Friday. Argus reissued a “buy” rating and set a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 target price on shares of Tesla in a research note on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $210.72.

Tesla Trading Up 0.5 %

The company has a market cap of $697.83 billion, a price-to-earnings ratio of 56.05, a PEG ratio of 6.48 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The business’s 50-day simple moving average is $225.43 and its 200-day simple moving average is $203.96.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 over the last quarter. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Several large investors have recently added to or reduced their stakes in the business. Beacon Financial Group acquired a new position in shares of Tesla in the 4th quarter worth approximately $227,000. Scarborough Advisors LLC raised its position in shares of Tesla by 9.7% during the fourth quarter. Scarborough Advisors LLC now owns 1,604 shares of the electric vehicle producer’s stock worth $399,000 after purchasing an additional 142 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new position in Tesla in the 4th quarter worth about $50,000. Vima LLC acquired a new stake in Tesla during the 4th quarter worth about $108,000. Finally, Fortis Group Advisors LLC boosted its holdings in shares of Tesla by 28.6% in the fourth quarter. Fortis Group Advisors LLC now owns 3,384 shares of the electric vehicle producer’s stock worth $841,000 after buying an additional 753 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.