Tesla (NASDAQ:TSLA) Price Target Cut to $115.00 by Analysts at JPMorgan Chase & Co.

Tesla (NASDAQ:TSLA) had its target price cut by JPMorgan Chase & Co. from $120.00 to $115.00 in a report released on Wednesday morning,Benzinga reports. They currently have an underweight rating on the electric vehicle producer’s stock.

Several other research analysts have also recently weighed in on TSLA. Truist Financial reduced their price target on shares of Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a report on Thursday, April 3rd. HSBC dropped their price target on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Stifel Nicolaus dropped their target price on Tesla from $474.00 to $455.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $287.46.

Tesla Price Performance

TSLA opened at $284.95 on Wednesday. The company has a fifty day simple moving average of $263.98 and a 200 day simple moving average of $322.46. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market cap of $916.55 billion, a P/E ratio of 139.68, a P/E/G ratio of 5.86 and a beta of 2.58. Tesla has a 12 month low of $166.37 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the company earned $0.45 earnings per share. On average, research analysts expect that Tesla will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 374,228 shares of company stock worth $123,791,123 in the last ninety days. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Several institutional investors have recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC raised its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank raised its stake in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC lifted its position in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares during the period. True Wealth Design LLC grew its stake in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 31 shares in the last quarter. Finally, Horrell Capital Management Inc. increased its holdings in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the period. 66.20% of the stock is currently owned by institutional investors.

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.