Mizuho Cuts Tesla (NASDAQ:TSLA) Price Target to $375.00

Tesla (NASDAQ:TSLA) had its price target decreased by Mizuho from $430.00 to $375.00 in a report published on Thursday,Benzinga reports. Mizuho currently has an outperform rating on the electric vehicle producer’s stock.

Several other equities research analysts have also recently issued reports on TSLA. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. UBS Group dropped their price objective on Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a report on Monday, March 10th. Piper Sandler lowered their price target on Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Wedbush cut their price objective on shares of Tesla from $550.00 to $315.00 and set an “outperform” rating on the stock in a report on Monday, April 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday, March 28th. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $298.59.

Tesla Stock Down 0.2 %

Shares of NASDAQ TSLA opened at $251.96 on Thursday. The stock has a market cap of $810.42 billion, a P/E ratio of 123.51, a PEG ratio of 5.86 and a beta of 2.58. The business’s fifty day simple moving average is $285.19 and its 200-day simple moving average is $323.09. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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 predict that Tesla will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 374,228 shares of company stock valued at $123,791,123. Corporate insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after buying an additional 1,655,203 shares in the last quarter. Norges Bank acquired a new position in shares of Tesla in the fourth quarter valued at approximately $14,420,248,000. FMR LLC lifted its stake in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the period. Finally, Northern Trust Corp boosted its position in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Company Profile

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.