Tesla (NASDAQ:TSLA) Stock Price Down 1.8% – Should You Sell?

Shares of Tesla, Inc. (NASDAQ:TSLA) were down 1.8% during trading on Wednesday . The company traded as low as $390.65 and last traded at $390.86. Approximately 14,591,859 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 70,774,664 shares. The stock had previously closed at $398.09.

Analyst Ratings Changes

A number of equities analysts have commented on TSLA shares. Piper Sandler lifted their target price on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Friday, January 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $365.00 price target on shares of Tesla in a report on Wednesday. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Finally, New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a report on Monday, January 6th. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $313.84.

Tesla Trading Down 2.2 %

The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.25 trillion, a P/E ratio of 105.80, a PEG ratio of 8.42 and a beta of 2.30. The stock’s 50 day moving average is $401.04 and its 200-day moving average is $296.63.

Insider Activity

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

Institutional Trading of Tesla

A number of institutional investors have recently bought and sold shares of TSLA. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the third quarter worth $29,000. Clean Yield Group grew its stake in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in Tesla in the third quarter worth about $35,000. M&R Capital Management Inc. boosted its holdings in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Finally, Finley Financial LLC acquired a new stake in Tesla in the fourth quarter worth about $64,000. 66.20% of the stock is currently owned by institutional investors.

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.