Tesla (NASDAQ:TSLA) Given New $450.00 Price Target at Piper Sandler

Tesla (NASDAQ:TSLA) had its price objective trimmed by Piper Sandler from $500.00 to $450.00 in a research note released on Thursday, MarketBeat.com reports. The firm currently has an overweight rating on the electric vehicle producer’s stock.

Several other equities research analysts have also recently commented on TSLA. UBS Group lowered their target price on Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a research note on Monday, March 10th. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research report on Monday, January 6th. Barclays lifted their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Finally, Glj Research reaffirmed a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $319.56.

Tesla Trading Up 0.2 %

TSLA opened at $236.26 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $759.93 billion, a PE ratio of 115.81, a PEG ratio of 5.86 and a beta of 2.50. Tesla has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a 50-day moving average price of $338.11 and a two-hundred day moving average price of $319.44.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts anticipate that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 in the last three months. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Hedge funds have recently made changes to their positions in the business. True Wealth Design LLC lifted its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. lifted its stake in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. boosted its holdings in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares during the period. Navigoe LLC acquired a new position in Tesla in the 4th quarter valued at about $37,000. Finally, CoreFirst Bank & Trust bought a new position in Tesla in the 4th quarter valued at about $38,000. 66.20% of the stock is owned by institutional investors and hedge funds.

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.