Tesla (NASDAQ:TSLA) Stock Price Down 4.5% – Here’s Why

Tesla, Inc. (NASDAQ:TSLA) traded down 4.5% on Monday . The stock traded as low as $374.36 and last traded at $386.27. 44,735,951 shares were traded during mid-day trading, a decline of 39% from the average session volume of 73,700,914 shares. The stock had previously closed at $404.60.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $440.00 price objective on shares of Tesla in a research report on Thursday. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Stifel Nicolaus raised their price objective on Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Nine equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $318.31.

Tesla Stock Down 5.2 %

The company has a market capitalization of $1.23 trillion, a P/E ratio of 187.99, a P/E/G ratio of 6.79 and a beta of 2.34. The business’s fifty day moving average price is $404.22 and its 200 day moving average price is $299.70. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities research analysts predict that Tesla, Inc. will post 2.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $31,548,461.84. This represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 553,386 shares of company stock worth $196,305,796 in the last quarter. 20.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Strategic Financial Concepts LLC lifted its holdings in Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after buying an additional 8,637,195 shares during the period. Assenagon Asset Management S.A. grew its holdings in Tesla by 194.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after acquiring an additional 3,624,910 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.