Tesla (NASDAQ:TSLA) Price Target Lowered to $115.00 at JPMorgan Chase & Co.

Tesla (NASDAQ:TSLAFree Report) had its price target reduced by JPMorgan Chase & Co. from $130.00 to $115.00 in a research note released on Wednesday, Marketbeat.com reports. They currently have an underweight rating on the electric vehicle producer’s stock.

TSLA has been the topic of several other reports. KGI Securities restated a neutral rating and set a $213.00 price target (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Oppenheimer reissued a market perform rating on shares of Tesla in a report on Tuesday. Piper Sandler dropped their price target on shares of Tesla from $295.00 to $225.00 and set an overweight rating for the company in a research note on Monday, February 5th. Truist Financial reduced their price objective on shares of Tesla from $193.00 to $176.00 and set a hold rating on the stock in a research note on Wednesday. Finally, Wedbush lowered their target price on Tesla from $315.00 to $300.00 and set an outperform rating for the company in a research report on Thursday, March 28th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $202.00.

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Tesla Stock Performance

Shares of Tesla stock opened at $168.38 on Wednesday. The company’s 50 day moving average price is $184.80 and its two-hundred day moving average price is $218.91. The firm has a market capitalization of $536.26 billion, a P/E ratio of 39.07, a P/E/G ratio of 4.06 and a beta of 2.39. Tesla has a fifty-two week low of $152.37 and a fifty-two week high of $299.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business earned $1.07 EPS. On average, equities analysts forecast that Tesla will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated 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 owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Contravisory Investment Management Inc. bought a new position in Tesla during the 3rd quarter valued at $25,000. Wyrmwood Management LLC purchased a new stake in shares of Tesla in the fourth quarter valued at about $25,000. Lam Group Inc. bought a new position in shares of Tesla during the fourth quarter valued at about $25,000. Halpern Financial Inc. boosted its holdings in Tesla by 1,111.1% during the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Finally, Alpha Paradigm Partners LLC bought a new stake in Tesla in the 3rd quarter worth about $27,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

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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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