Tesla (NASDAQ:TSLA) Price Target Lowered to $320.00 at Royal Bank of Canada

Tesla (NASDAQ:TSLA) had its price objective cut by Royal Bank of Canada from $440.00 to $320.00 in a research report report published on Tuesday, MarketBeat.com reports. They currently have an outperform rating on the electric vehicle producer’s stock.

Other equities research analysts also recently issued reports about the stock. Mizuho decreased their target price on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday. StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Truist Financial boosted their target price on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research report on Monday, January 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Nine equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $319.25.

Tesla Price Performance

TSLA stock opened at $225.31 on Tuesday. The firm has a market cap of $724.71 billion, a price-to-earnings ratio of 110.45, a PEG ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54. The company’s fifty day simple moving average is $344.47 and its 200 day simple moving average is $320.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. On average, analysts expect that Tesla will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were 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 directly owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 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 $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 ninety days, insiders sold 477,228 shares of company stock valued at $166,849,043. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Several large investors have recently added to or reduced their stakes in TSLA. True Wealth Design LLC grew its position in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. grew its position in Tesla by 75.6% during the fourth 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. GS Investments Inc. grew its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares during the period. Navigoe LLC bought a new stake in Tesla during the fourth quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla during the fourth quarter valued at approximately $38,000. 66.20% of the stock is currently owned by institutional investors.

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.