UBS Group Cuts Tesla (NASDAQ:TSLA) Price Target to $190.00

Tesla (NASDAQ:TSLA) had its price objective decreased by UBS Group from $225.00 to $190.00 in a research note released on Thursday morning,Benzinga reports. UBS Group currently has a sell rating on the electric vehicle producer’s stock.

A number of other equities analysts have also commented on TSLA. Morgan Stanley cut their price target on Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a report on Friday, March 21st. The Goldman Sachs Group cut their target price on Tesla from $320.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Barclays upped their price target 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. Bank of America dropped their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Benchmark reduced their target price on Tesla from $475.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $298.59.

Tesla Stock Down 0.2 %

Tesla stock opened at $251.96 on Thursday. The firm has a market capitalization of $810.42 billion, a price-to-earnings ratio of 123.51, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. 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 has a 1-year low of $138.80 and a 1-year high of $488.54. The firm’s fifty day moving average price is $285.19 and its two-hundred day moving average price is $323.09.

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

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of Tesla 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 transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

Institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Tesla during the 4th quarter worth $14,420,248,000. FMR LLC increased its stake in Tesla by 40.1% in 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 purchasing an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC lifted its position in Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after buying an additional 9,776,607 shares during the period. Strategic Financial Concepts LLC boosted its stake in Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after buying an additional 5,719,466 shares during the period. Hedge funds and other institutional investors 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.