Tesla (NASDAQ:TSLA) Shares Down 0.8%

Tesla, Inc. (NASDAQ:TSLA) shares fell 0.8% during trading on Thursday . The company traded as low as $176.02 and last traded at $178.63. 34,416,283 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 104,308,031 shares. The stock had previously closed at $179.99.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TSLA. Piper Sandler reissued an “overweight” rating and issued a $205.00 price objective on shares of Tesla in a research note on Monday, April 22nd. UBS Group dropped their price objective on Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Barclays dropped their price objective on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Truist Financial dropped their price objective on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Finally, Canaccord Genuity Group cut their target price on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $185.90.

Tesla Stock Up 0.3 %

The business has a 50 day simple moving average of $174.41 and a 200 day simple moving average of $206.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The stock has a market cap of $575.75 billion, a PE ratio of 45.57, a P/E/G ratio of 4.98 and a beta of 2.40.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following 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. Insiders have sold 209,098 shares of company stock worth $38,802,534 over the last 90 days. 25.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

Large investors have recently made changes to their positions in the stock. Mount Vernon Associates Inc. MD boosted its stake in shares of Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after acquiring an additional 350 shares in the last quarter. Oak Ridge Investments LLC grew its holdings in Tesla by 4.6% in the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after buying an additional 1,405 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Tesla by 3.7% in the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after buying an additional 25,943 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in Tesla by 16.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after buying an additional 6,615 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Tesla by 11.8% in the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after buying an additional 81,729 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

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.