Tesla (NASDAQ:TSLA) Shares Down 0.8%

Shares of Tesla, Inc. (NASDAQ:TSLA) dropped 0.8% on Thursday . The stock traded as low as $176.02 and last traded at $178.63. Approximately 34,416,283 shares traded hands during trading, a decline of 67% from the average daily volume of 104,308,031 shares. The stock had previously closed at $179.99.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TSLA shares. Royal Bank of Canada reduced their price objective on shares of Tesla from $294.00 to $293.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. TD Cowen cut their price target on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Wedbush reiterated an “outperform” rating and set a $275.00 price target on shares of Tesla in a research note on Monday. Finally, Cantor Fitzgerald began coverage on shares of Tesla in a research note on Thursday. They set an “overweight” rating and a $230.00 price target on the stock. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $185.90.

Tesla Trading Up 0.3 %

The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $174.41 and a two-hundred day moving average of $206.11. The stock has a market capitalization of $575.75 billion, a price-to-earnings ratio of 45.57, a P/E/G ratio of 4.98 and a beta of 2.40.

Insider Buying and Selling

In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 over the last three months. 25.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after buying an additional 3,866,361 shares in the last quarter. Norges Bank purchased a new position in shares of Tesla in the fourth quarter valued at $7,844,757,000. Morgan Stanley increased its position in shares of Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares in the last quarter. FMR LLC increased its position in shares of Tesla by 0.9% in the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after buying an additional 269,182 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Tesla by 3.4% during the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after acquiring an additional 909,170 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.