Tesla (NASDAQ:TSLA) Trading Down 1% – Should You Sell?

Tesla, Inc. (NASDAQ:TSLA) traded down 1% during mid-day trading on Friday . The company traded as low as $383.76 and last traded at $391.09. 99,553,044 shares traded hands during trading, a decline of 1% from the average session volume of 100,568,008 shares. The stock had previously closed at $395.23.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Melius Research set a $520.00 price objective on shares of Tesla and gave the company a “buy” rating in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $440.00 to $470.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. President Capital raised their price objective on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Benchmark reiterated a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $394.31.

Tesla Stock Down 1.0%

The company has a 50-day moving average of $433.65 and a 200-day moving average of $363.54. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 260.73, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. Relyea Zuckerberg Hanson LLC lifted its position in Tesla by 0.4% during the third quarter. Relyea Zuckerberg Hanson LLC now owns 6,558 shares of the electric vehicle producer’s stock valued at $2,916,000 after purchasing an additional 23 shares during the period. Equita Financial Network Inc. lifted its holdings in shares of Tesla by 2.8% in the 3rd quarter. Equita Financial Network Inc. now owns 855 shares of the electric vehicle producer’s stock valued at $380,000 after buying an additional 23 shares during the period. VanderPol Investments L.L.C. grew its holdings in Tesla by 2.2% during the third quarter. VanderPol Investments L.L.C. now owns 1,070 shares of the electric vehicle producer’s stock worth $464,000 after acquiring an additional 23 shares during the period. Resonant Capital Advisors LLC grew its holdings in Tesla by 0.3% during the third quarter. Resonant Capital Advisors LLC now owns 8,577 shares of the electric vehicle producer’s stock worth $3,814,000 after acquiring an additional 23 shares during the period. Finally, Cloud Capital Management LLC raised its position in Tesla by 1.1% during the third quarter. Cloud Capital Management LLC now owns 2,076 shares of the electric vehicle producer’s stock valued at $923,000 after acquiring an additional 23 shares in the last quarter. 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.