Tesla (NASDAQ:TSLA) PT Lowered to $120.00

Tesla (NASDAQ:TSLA) had its target price reduced by Wells Fargo & Company from $125.00 to $120.00 in a research note issued to investors on Friday, Marketbeat.com reports. Wells Fargo & Company currently has an underweight rating on the electric vehicle producer’s stock.

Other analysts also recently issued reports about the company. Piper Sandler decreased their price target on Tesla from $225.00 to $205.00 and set an overweight rating for the company in a report on Wednesday, April 10th. Citigroup decreased their target price on Tesla from $196.00 to $180.00 and set a neutral rating for the company in a research note on Friday. Wedbush dropped their price target on shares of Tesla from $315.00 to $300.00 and set an outperform rating on the stock in a research note on Thursday, March 28th. Royal Bank of Canada restated an outperform rating and set a $298.00 price objective on shares of Tesla in a research report on Wednesday, March 27th. Finally, Guggenheim increased their target price on shares of Tesla from $125.00 to $132.00 and gave the company a sell rating in a research report on Friday, December 15th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $198.81.

Tesla Price Performance

TSLA stock opened at $161.48 on Friday. Tesla has a 1 year low of $152.37 and a 1 year high of $299.29. The firm has a market capitalization of $514.28 billion, a P/E ratio of 37.47, a P/E/G ratio of 4.50 and a beta of 2.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The business’s 50-day moving average is $181.44 and its two-hundred day moving average is $213.70.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same quarter last year, the firm earned $1.07 EPS. The company’s revenue was up 3.5% on a year-over-year basis. Analysts anticipate that Tesla will post 1.98 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 over the last three months. 20.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

Several large investors have recently bought and sold shares of the company. Axiom Financial Strategies LLC increased its stake in shares of Tesla by 9.8% during the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after purchasing an additional 81 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Tesla by 19.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after buying an additional 164,789 shares in the last quarter. MAS Advisors LLC raised its holdings in shares of Tesla by 25.7% in the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after acquiring an additional 81 shares during the last quarter. Ergoteles LLC lifted its position in shares of Tesla by 33.4% in the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock valued at $3,844,000 after acquiring an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in Tesla by 6.8% during the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock worth $77,767,000 after purchasing an additional 4,593 shares in 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.