Tesla (NASDAQ:TSLA) Price Target Cut to $147.00

Tesla (NASDAQ:TSLA) had its target price reduced by UBS Group from $160.00 to $147.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the electric vehicle producer’s stock. UBS Group’s price objective would indicate a potential downside of 13.62% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Edward Jones cut shares of Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Deutsche Bank Aktiengesellschaft cut shares of Tesla from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $189.00 to $123.00 in a research note on Thursday, April 18th. TD Cowen reduced their price objective on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Wells Fargo & Company reduced their price objective on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research note on Friday, April 12th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Wednesday, April 17th. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $186.70.

Tesla Stock Up 5.0 %

Shares of TSLA stock opened at $170.18 on Wednesday. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29. The stock has a market cap of $541.99 billion, a P/E ratio of 43.41, a P/E/G ratio of 3.82 and a beta of 2.39. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The company has a 50 day simple moving average of $175.67 and a two-hundred day simple moving average of $208.64.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.68%. The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the company posted $1.07 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, research analysts expect that Tesla will post 1.97 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’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 of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock worth $38,802,534 over the last 90 days. 25.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Tesla

Institutional investors have recently made changes to their positions in the company. Wyrmwood Management LLC purchased a new position in Tesla in the 4th quarter worth about $25,000. Lam Group Inc. purchased a new position in Tesla in the 4th quarter worth about $25,000. Mendota Financial Group LLC increased its stake in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV increased its stake in Tesla by 94.5% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 69 shares during the period. Finally, OLD Point Trust & Financial Services N A purchased a new position in Tesla in the 4th quarter worth about $37,000. 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.