Tesla (NASDAQ:TSLA) Trading Down 1.3% – Here’s Why

Tesla, Inc. (NASDAQ:TSLA) shares fell 1.3% during trading on Monday . The stock traded as low as $393.39 and last traded at $401.13. 24,700,736 shares were traded during mid-day trading, a decline of 66% from the average session volume of 73,531,305 shares. The stock had previously closed at $406.58.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research reports. Piper Sandler upped their price target on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Canaccord Genuity Group boosted their price target on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research note on Monday, January 6th. Finally, Glj Research reissued a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Friday, January 3rd. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $313.84.

Tesla Price Performance

The business’s 50 day moving average is $398.82 and its two-hundred day moving average is $294.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market capitalization of $1.27 trillion, a PE ratio of 108.77, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30.

Insider Activity

In other news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

Large investors have recently modified their holdings of the business. Spirit of America Management Corp NY raised its stake in Tesla by 4.3% in the fourth quarter. Spirit of America Management Corp NY now owns 2,400 shares of the electric vehicle producer’s stock valued at $969,000 after purchasing an additional 100 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Tesla during the 4th quarter valued at $1,501,000. Stratos Investment Management LLC lifted its holdings in shares of Tesla by 17.5% during the 4th quarter. Stratos Investment Management LLC now owns 3,245 shares of the electric vehicle producer’s stock worth $1,311,000 after acquiring an additional 484 shares during the last quarter. Stratos Wealth Advisors LLC grew its position in Tesla by 5.2% in the fourth quarter. Stratos Wealth Advisors LLC now owns 9,117 shares of the electric vehicle producer’s stock worth $3,682,000 after acquiring an additional 451 shares in the last quarter. Finally, Paragon Capital Management Inc. bought a new position in Tesla in the fourth quarter valued at $1,161,000. 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.