Tesla (NASDAQ:TSLA) PT Lowered to $227.00

Tesla (NASDAQ:TSLAFree Report) had its target price lowered by Royal Bank of Canada from $293.00 to $227.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the electric vehicle producer’s stock.

Other analysts have also issued research reports about the stock. Piper Sandler restated an overweight rating and set a $205.00 price target on shares of Tesla in a research report on Monday, April 22nd. JPMorgan Chase & Co. dropped their price target on shares of Tesla from $130.00 to $115.00 and set an underweight rating on the stock in a research report on Wednesday, April 3rd. UBS Group dropped their price target on shares of Tesla from $160.00 to $147.00 and set a neutral rating on the stock in a research report on Wednesday, April 24th. Evercore ISI dropped their price target on shares of Tesla from $155.00 to $145.00 and set an in-line rating on the stock in a research report on Monday, April 29th. Finally, Truist Financial dropped their price target on shares of Tesla from $176.00 to $162.00 and set a hold rating on the stock in a research report on Wednesday, April 24th. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $182.68.

Check Out Our Latest Stock Report on Tesla

Tesla Stock Up 0.8 %

NASDAQ:TSLA opened at $183.01 on Thursday. The firm has a market capitalization of $583.65 billion, a P/E ratio of 46.69, a PEG ratio of 4.50 and a beta of 2.32. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29. The company’s fifty day moving average price is $173.99 and its 200-day moving average price is $193.08. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. As a group, equities research analysts anticipate that Tesla will post 1.87 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders have sold 104,855 shares of company stock valued at $19,285,643 over the last ninety days. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Institutional investors have recently modified their holdings of the stock. Apexium Financial LP raised its position in Tesla by 736.8% in the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after purchasing an additional 21,972 shares during the last quarter. Mount Vernon Associates Inc. MD raised its position in Tesla by 5.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares during the last quarter. Forum Financial Management LP raised its position in Tesla by 19.7% in the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after purchasing an additional 3,582 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in Tesla by 16.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after purchasing an additional 6,615 shares during the last quarter. Finally, Catalyst Financial Partners LLC raised its position in Tesla by 9.4% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after purchasing an additional 598 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

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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.

Further Reading

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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