Tesla (NASDAQ:TSLA) Stock Price Down 1.6% – Here’s What Happened

Tesla, Inc. (NASDAQ:TSLA) dropped 1.6% during trading on Wednesday . The company traded as low as $373.05 and last traded at $375.5270. Approximately 36,641,035 shares were traded during mid-day trading, a decline of 38% from the average session volume of 59,207,184 shares. The stock had previously closed at $381.61.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s energy business is getting more attention after new partnerships with Sunrun/Renew Home and NatPower point to growing demand for battery storage and grid support. Article Title
• Positive Sentiment: Finland may approve Tesla’s supervised self-driving software before an EU-wide decision, which could support broader FSD adoption in Europe. Article Title
• Neutral Sentiment: Analysts and commentators continue debating Q2 deliveries, but investors are increasingly focused on whether Tesla’s energy revenue can matter as much as vehicle sales. Article Title
• Negative Sentiment: A new NHTSA probe into a fatal Texas crash has renewed concern about Tesla’s Autopilot/FSD safety record and could weigh on sentiment until the investigation is resolved. Article Title
• Negative Sentiment: Broader bearish commentary is also building, with some analysts warning that Tesla’s valuation is vulnerable amid EV price wars and multiple compression. Article Title

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Thursday, June 11th. Mizuho dropped their price objective on shares of Tesla from $540.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. JPMorgan Chase & Co. restated a “neutral” rating on shares of Tesla in a research report on Wednesday. Jefferies Financial Group increased their target price on Tesla from $350.00 to $375.00 and gave the company a “hold” rating in a report on Monday. Finally, Roth Mkm reissued a “buy” rating on shares of Tesla in a research report on Thursday, April 23rd. Twenty-one analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $405.06.

Tesla Price Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. The stock has a market capitalization of $1.41 trillion, a PE ratio of 344.52, a P/E/G ratio of 16.19 and a beta of 1.80. The company has a 50-day moving average of $405.18 and a two-hundred day moving average of $414.53.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. Tesla’s revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 1.19 EPS for the current fiscal year.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the transaction, the director directly owned 48,399 shares in the company, valued at $18,300,145.89. This trade represents a 35.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the sale, the chief financial officer directly owned 22,039 shares of the company’s stock, valued at approximately $8,864,085.80. This trade represents a 10.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 57,824 shares of company stock valued at $21,657,588 over the last 90 days. 19.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Tesla in the fourth quarter valued at approximately $17,128,100,000. Corient Private Wealth LLC grew its holdings in Tesla by 3,205.5% during the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock valued at $9,650,811,000 after purchasing an additional 20,810,386 shares in the last quarter. Bank of America Corp DE lifted its holdings in Tesla by 56.0% in the 4th quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer’s stock worth $9,334,211,000 after buying an additional 7,450,766 shares in the last quarter. Cardano Risk Management B.V. boosted its position in Tesla by 882.8% in the 4th quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer’s stock valued at $3,688,630,000 after buying an additional 7,367,507 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Tesla by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock worth $116,443,762,000 after acquiring an additional 6,538,720 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Company Profile

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.