Shares of Tesla, Inc. (NASDAQ:TSLA) fell by 3.1% on Monday, closing at $435.20 after hitting a low of $434.28 during the trading session. Approximately 48,905,895 shares exchanged hands, marking a notable decline of 23% from the average daily volume of 63,595,355 shares. This drop follows a previous closing price of $449.06.
Impact of Analyst Ratings on Tesla Stock
Several brokerages have recently adjusted their ratings on Tesla shares. On November 17, TD Cowen reaffirmed a “buy” rating. In contrast, HSBC issued a “reduce” rating on the same day. The following week, Morgan Stanley maintained a “positive” outlook on the stock. Meanwhile, New Street Research raised their price target from $520.00 to $600.00, emphasizing a “buy” recommendation. Conversely, Wells Fargo & Company reiterated an “underweight” rating with a new target price of $130.00, up from $120.00.
Currently, eighteen analysts classify the stock with a “buy” rating, while thirteen have assigned a “hold” rating, and eight have issued a “sell” rating. According to MarketBeat, Tesla holds a consensus rating of “hold” with a target price averaging $410.77.
Financial Metrics and Insider Activity
Tesla’s financial indicators reflect a robust position, with a current ratio of 2.07, a quick ratio of 1.67, and a debt-to-equity ratio of 0.07. The stock has a 50-day simple moving average of $444.81 and a 200-day moving average of $404.75. The company’s market capitalization stands at approximately $1.45 trillion, with a price-to-earnings (PE) ratio of 290.13 and a price-to-earnings-growth (PEG) ratio of 7.63.
In notable insider trading, James R. Murdoch, a Tesla director, sold 60,000 shares on January 2 at an average price of $445.40, totaling approximately $26,724,000. This transaction reduced his holding by 9.42%. Following this sale, Murdoch retains 577,031 shares valued at about $257,009,607.40. Additionally, Vaibhav Taneja, the Chief Financial Officer, sold 2,637 shares on December 8 for approximately $1,170,643.41, resulting in a 16.09% reduction in his holdings.
In total, over the last 90 days, insiders have sold 119,457 shares valued at $53,501,145, with insiders currently holding 19.90% of the total stock.
Institutional Trading Trends
Recent trading activity indicates significant institutional interest in Tesla. Several hedge funds have made moves in the company, with Networth Advisors LLC acquiring a new position valued at around $26,000 during the fourth quarter. Other noteworthy purchases include Turning Point Benefit Group Inc. and Manning & Napier Advisors LLC, both acquiring shares valued at approximately $30,000 during the third quarter. Overall, institutional investors currently hold 66.20% of Tesla’s stock.
Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla has established itself as a leader in electric vehicles and sustainable energy solutions. Under the leadership of CEO Elon Musk, the company aims to accelerate the world’s transition to sustainable energy through innovative electric drivetrains, battery technology, and software solutions.
