Traders Sell Shares of Tesla (TSLA) on Strength Following Analyst Downgrade

Investors sold shares of Tesla, Inc. (NASDAQ:TSLA) on strength during trading on Thursday after Morgan Stanley lowered their price target on the stock from $379.00 to $376.00. $471.55 million flowed into the stock on the tick-up and $527.23 million flowed out of the stock on the tick-down, for a money net flow of $55.68 million out of the stock. Of all stocks tracked, Tesla had the 0th highest net out-flow for the day. Tesla traded up $6.73 for the day and closed at $300.08

Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. UBS set a $195.00 price target on shares of Tesla and gave the stock a “sell” rating in a research report on Friday, February 9th. Vetr upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $339.63 price target on the stock in a research report on Monday, February 12th. JPMorgan Chase set a $190.00 price target on shares of Tesla and gave the stock a “sell” rating in a research report on Thursday, February 8th. Finally, KeyCorp reiterated a “hold” rating on shares of Tesla in a research report on Thursday, January 4th. Thirteen analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $304.33.

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In related news, Director Kimbal Musk sold 1,875 shares of the stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $300.00, for a total transaction of $562,500.00. Following the completion of the sale, the director now directly owns 150,208 shares of the company’s stock, valued at approximately $45,062,400. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Eric Branderiz sold 801 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $354.58, for a total value of $284,018.58. Following the sale, the vice president now directly owns 1,287 shares of the company’s stock, valued at $456,344.46. The disclosure for this sale can be found here. Insiders sold a total of 5,529 shares of company stock worth $1,786,841 over the last quarter. 23.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Truewealth LLC bought a new stake in Tesla during the 4th quarter worth approximately $102,000. Avestar Capital LLC bought a new stake in Tesla during the 4th quarter worth approximately $144,000. FDx Advisors Inc. bought a new stake in Tesla during the 4th quarter worth approximately $203,000. Opes Advisors Inc bought a new stake in Tesla during the 4th quarter worth approximately $212,000. Finally, Centaurus Financial Inc. bought a new stake in Tesla during the 4th quarter worth approximately $212,000. 58.19% of the stock is owned by institutional investors and hedge funds.

The company has a debt-to-equity ratio of 1.80, a current ratio of 0.86 and a quick ratio of 0.56. The company has a market capitalization of $49,552.66, a PE ratio of -25.28 and a beta of 1.19.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.12) by $0.08. Tesla had a negative return on equity of 33.08% and a negative net margin of 16.68%. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the prior year, the business earned ($0.69) EPS. Tesla’s revenue for the quarter was up 43.9% compared to the same quarter last year. equities analysts anticipate that Tesla, Inc. will post -15.15 EPS for the current year.

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Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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