Tesla (NASDAQ:TSLA) PT Lowered to $162.00

Tesla (NASDAQ:TSLA) had its price objective lowered by Truist Financial from $176.00 to $162.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other research reports. UBS Group reduced their price objective on shares of Tesla from $225.00 to $165.00 and set a neutral rating for the company in a research report on Thursday, March 14th. Robert W. Baird restated an outperform rating and issued a $280.00 price objective on shares of Tesla in a research report on Wednesday, April 17th. Wells Fargo & Company reduced their price objective on shares of Tesla from $125.00 to $120.00 and set an underweight rating for the company in a research report on Friday, April 12th. Morgan Stanley reduced their price objective on shares of Tesla from $320.00 to $310.00 and set an overweight rating for the company in a research report on Thursday, April 4th. Finally, Wedbush reaffirmed an outperform rating and issued a $300.00 target price on shares of Tesla in a report on Friday, April 19th. Eight research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $186.70.

Tesla Price Performance

Shares of TSLA opened at $168.29 on Wednesday. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company has a market capitalization of $535.97 billion, a price-to-earnings ratio of 42.93, a price-to-earnings-growth ratio of 4.28 and a beta of 2.39. The firm has a 50-day simple moving average of $175.04 and a 200-day simple moving average of $208.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same quarter last year, the company posted $1.07 EPS. Tesla’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities research analysts anticipate that Tesla will post 1.97 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. In the last three months, insiders sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of hedge funds have recently made changes to their positions in TSLA. Mount Vernon Associates Inc. MD lifted its holdings in shares of Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after acquiring an additional 350 shares in the last quarter. Oak Ridge Investments LLC lifted its holdings in shares of Tesla by 4.6% during the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after acquiring an additional 1,405 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Tesla by 3.7% during the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after acquiring an additional 25,943 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after acquiring an additional 6,615 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Tesla by 11.8% during the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after acquiring an additional 81,729 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.