Tesla, Inc. (NASDAQ:TSLA – Get Free Report)’s stock price traded down 1.8% on Tuesday . The company traded as low as $386.50 and last traded at $390.10. 17,278,368 shares traded hands during trading, a decline of 76% from the average session volume of 72,147,977 shares. The stock had previously closed at $397.15.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on TSLA shares. Jefferies Financial Group lifted their target price on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Truist Financial increased their target price on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $318.31.
Get Our Latest Report on Tesla
Tesla Price Performance
Tesla (NASDAQ:TSLA – Get Free Report) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 13.07% and a return on equity of 10.24%. As a group, equities analysts forecast that Tesla, Inc. will post 2.01 earnings per share for the current year.
Insider Transactions at Tesla
In related 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 value 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 approximately $26,442,856.32. This represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 617,886 shares of company stock worth $212,451,751 in the last three months. Corporate insiders own 20.70% of the company’s stock.
Institutional Trading of Tesla
Several institutional investors and hedge funds have recently modified their holdings of TSLA. Geode Capital Management LLC raised its holdings in Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after acquiring an additional 1,022,589 shares during the period. FMR LLC raised its stake in Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after purchasing an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tesla by 13.7% in 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 worth $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after purchasing an additional 301,968 shares during the period. Finally, Jennison Associates LLC grew its holdings in Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after buying an additional 1,294,093 shares in the last quarter. 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.
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