Tesla (NASDAQ:TSLA) PT Lowered to $120.00

Tesla (NASDAQ:TSLA – Get Rating) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $125.00 to $120.00 in a research note issued on Wednesday, The Fly reports. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 16.60% from the stock’s current price.

Several other research analysts have also weighed in on TSLA. StockNews.com began coverage on shares of Tesla in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Oppenheimer lowered shares of Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, December 19th. Wedbush cut their price objective on shares of Tesla from $250.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, December 23rd. Cowen cut their price objective on shares of Tesla from $244.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 20th. Finally, Piper Sandler cut their price objective on shares of Tesla from $340.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, January 18th. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $215.51.

Tesla Price Performance

NASDAQ:TSLA opened at $143.89 on Wednesday. The firm has a market cap of $454.37 billion, a price-to-earnings ratio of 44.46, a price-to-earnings-growth ratio of 1.18 and a beta of 2.02. The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average is $148.77 and its two-hundred day moving average is $220.41. Tesla has a 12-month low of $101.81 and a 12-month high of $384.29.

Insider Transactions at Tesla

In other Tesla news, CFO Zachary Kirkhorn sold 3,751 shares of Tesla stock in a transaction on Friday, November 4th. The shares were sold at an average price of $222.50, for a total value of $834,597.50. Following the completion of the transaction, the chief financial officer now owns 185,276 shares of the company’s stock, valued at $41,223,910. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tesla news, CEO Elon Musk sold 9,650,000 shares of Tesla stock in a transaction on Friday, November 4th. The shares were sold at an average price of $208.58, for a total value of $2,012,797,000.00. Following the completion of the transaction, the chief executive officer now owns 455,467,432 shares of the company’s stock, valued at $95,001,396,966.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Zachary Kirkhorn sold 3,751 shares of Tesla stock in a transaction on Friday, November 4th. The stock was sold at an average price of $222.50, for a total transaction of $834,597.50. Following the completion of the transaction, the chief financial officer now directly owns 185,276 shares of the company’s stock, valued at approximately $41,223,910. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,172,833 shares of company stock valued at $4,492,567,309. 25.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Tesla by 212.2% in the third quarter. Vanguard Group Inc. now owns 213,024,517 shares of the electric vehicle producer’s stock valued at $56,504,752,000 after buying an additional 144,784,989 shares during the last quarter. State Street Corp lifted its stake in Tesla by 213.5% in the third quarter. State Street Corp now owns 99,647,239 shares of the electric vehicle producer’s stock valued at $26,431,430,000 after buying an additional 67,859,515 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Tesla by 229.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 46,956,884 shares of the electric vehicle producer’s stock valued at $12,493,433,000 after buying an additional 32,723,798 shares during the last quarter. Jennison Associates LLC lifted its stake in Tesla by 200.2% in the third quarter. Jennison Associates LLC now owns 29,557,607 shares of the electric vehicle producer’s stock valued at $7,840,155,000 after buying an additional 19,711,687 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its stake in Tesla by 196.4% in the third quarter. Baillie Gifford & Co. now owns 27,876,833 shares of the electric vehicle producer’s stock valued at $7,394,330,000 after buying an additional 18,472,529 shares during the last quarter. Institutional investors and hedge funds own 43.00% of the company’s stock.

Tesla Company Profile

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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.