Tesla (NASDAQ:TSLA) Price Target Cut to $162.00

Tesla (NASDAQ:TSLA) had its price target dropped by equities researchers at Truist Financial from $176.00 to $162.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the electric vehicle producer’s stock. Truist Financial’s price target would indicate a potential downside of 4.81% from the company’s previous close.

Other analysts also recently issued reports about the stock. Daiwa Capital Markets downgraded shares of Tesla from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $245.00 to $195.00 in a report on Tuesday, February 6th. Morgan Stanley reduced their price target on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Sanford C. Bernstein reduced their price target on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. Citigroup reduced their price target on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, HSBC reduced their price target on shares of Tesla from $143.00 to $138.00 and set a “reduce” rating on the stock in a report on Wednesday, April 3rd. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $186.70.

Tesla Stock Up 5.0 %

Shares of TSLA stock opened at $170.18 on Wednesday. The company has a market capitalization of $541.99 billion, a price-to-earnings ratio of 43.41, a PEG ratio of 3.82 and a beta of 2.39. Tesla has a one year low of $138.80 and a one year high of $299.29. The company’s fifty day moving average price is $175.67 and its 200-day moving average price is $208.64. 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:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS 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 the consensus estimate of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.68%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 earnings per share. Sell-side analysts expect that Tesla will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 in the last three months. Company insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Large investors have recently modified their holdings of the business. Wyrmwood Management LLC bought a new stake in shares of Tesla in the 4th quarter valued at about $25,000. Lam Group Inc. bought a new stake in shares of Tesla in the 4th quarter valued at about $25,000. Mendota Financial Group LLC raised its holdings in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV raised its holdings in shares of Tesla by 94.5% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla in the 4th quarter valued at 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.