Tesla (NASDAQ:TSLA) Stock Price Down 1.8% – What’s Next?

Tesla, Inc. (NASDAQ:TSLA) dropped 1.8% during trading on Tuesday . The stock traded as low as $386.50 and last traded at $390.10. Approximately 17,278,368 shares changed hands during trading, a decline of 76% from the average daily volume of 72,147,977 shares. The stock had previously closed at $397.15.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. Evercore ISI boosted their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Mizuho raised Tesla from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $230.00 to $515.00 in a research note on Tuesday, December 17th. Truist Financial reiterated a “hold” rating and issued a $360.00 target price on shares of Tesla in a research note on Thursday, January 2nd. Piper Sandler lifted their target price on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and raised their price target for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $313.84.

Tesla Stock Up 0.3 %

The business’s 50-day moving average is $399.99 and its 200-day moving average is $295.57. The company has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 109.13, a P/E/G ratio of 8.42 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 617,886 shares of company stock worth $212,451,751 over the last quarter. 20.70% of the stock is currently owned by insiders.

Institutional Trading of Tesla

Large investors have recently bought and sold shares of the business. Activest Wealth Management raised its holdings in shares of Tesla by 11.8% during the 4th quarter. Activest Wealth Management now owns 9,857 shares of the electric vehicle producer’s stock worth $3,981,000 after acquiring an additional 1,038 shares during the period. LJI Wealth Management LLC increased its holdings in shares of Tesla by 4.5% during the 4th quarter. LJI Wealth Management LLC now owns 1,954 shares of the electric vehicle producer’s stock worth $789,000 after buying an additional 84 shares during the last quarter. HTLF Bank acquired a new position in Tesla in the fourth quarter valued at approximately $445,000. Focused Wealth Management Inc grew its position in Tesla by 0.6% in the fourth quarter. Focused Wealth Management Inc now owns 22,468 shares of the electric vehicle producer’s stock worth $9,073,000 after acquiring an additional 133 shares during the period. Finally, Essex LLC raised its position in Tesla by 21.6% in the fourth quarter. Essex LLC now owns 1,093 shares of the electric vehicle producer’s stock valued at $441,000 after purchasing an additional 194 shares during the period. Hedge funds and other institutional investors 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.