Tesla (NASDAQ:TSLA) Shares Gap Down to $161.48

Tesla, Inc. (NASDAQ:TSLA) gapped down prior to trading on Tuesday . The stock had previously closed at $161.48, but opened at $156.74. Tesla shares last traded at $154.50, with a volume of 22,952,401 shares.

Analyst Upgrades and Downgrades

Several analysts have commented on TSLA shares. China Renaissance started coverage on Tesla in a report on Monday, February 26th. They issued a “hold” rating on the stock. Wedbush dropped their price target on shares of Tesla from $315.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, March 28th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, April 2nd. Barclays dropped their target price on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Canaccord Genuity Group cut their target price on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $197.15.

Tesla Trading Down 1.1 %

The firm has a market cap of $495.08 billion, a price-to-earnings ratio of 36.07, a price-to-earnings-growth ratio of 4.15 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The company has a 50 day moving average price of $180.24 and a 200 day moving average price of $212.64.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 EPS. On average, research analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 over the last quarter. 25.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently modified their holdings of the business. Trilogy Capital Inc. boosted its stake in shares of Tesla by 133.0% in the 1st quarter. Trilogy Capital Inc. now owns 4,294 shares of the electric vehicle producer’s stock valued at $755,000 after buying an additional 2,451 shares during the period. Cornerstone Wealth Group LLC raised its holdings in Tesla by 22.3% in the first quarter. Cornerstone Wealth Group LLC now owns 7,238 shares of the electric vehicle producer’s stock valued at $1,272,000 after acquiring an additional 1,318 shares in the last quarter. Physician Wealth Advisors Inc. lifted its stake in Tesla by 1.2% in the first quarter. Physician Wealth Advisors Inc. now owns 5,406 shares of the electric vehicle producer’s stock worth $950,000 after acquiring an additional 65 shares during the last quarter. Founders Financial Securities LLC grew its holdings in Tesla by 2.7% during the 1st quarter. Founders Financial Securities LLC now owns 10,802 shares of the electric vehicle producer’s stock worth $1,899,000 after acquiring an additional 287 shares in the last quarter. Finally, Foguth Wealth Management LLC. purchased a new stake in shares of Tesla in the 1st quarter valued at approximately $3,413,000. 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.