Tesla (NASDAQ:TSLA) PT Lowered to $293.00

Tesla (NASDAQ:TSLA) had its target price trimmed by Royal Bank of Canada from $294.00 to $293.00 in a report issued on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other research reports. KGI Securities reaffirmed a neutral rating and set a $213.00 price target (down previously from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Mizuho decreased their price objective on Tesla from $195.00 to $180.00 and set a neutral rating on the stock in a report on Wednesday. TD Cowen decreased their price target on Tesla from $200.00 to $180.00 and set a market perform rating on the stock in a research note on Thursday, January 25th. Edward Jones cut Tesla from a buy rating to a hold rating in a research note on Friday, January 26th. Finally, HSBC decreased their price target on Tesla from $143.00 to $138.00 and set a reduce rating on the stock in a research note on Wednesday, April 3rd. 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. Based on data from MarketBeat.com, Tesla presently has a consensus rating of Hold and a consensus target price of $186.22.

Tesla Stock Up 12.1 %

Shares of NASDAQ TSLA opened at $162.13 on Wednesday. Tesla has a one year low of $138.80 and a one year high of $299.29. 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 fifty day moving average price is $176.28 and its 200-day moving average price is $208.91. The stock has a market capitalization of $516.35 billion, a PE ratio of 41.36, a P/E/G ratio of 3.82 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.68%. The firm had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the company earned $1.07 EPS. The firm’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 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Opal Wealth Advisors LLC raised its stake in shares of Tesla by 1.0% in the third quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock worth $1,089,000 after purchasing an additional 42 shares during the last quarter. Holderness Investments Co. increased its position in Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after acquiring an additional 42 shares during the last quarter. SCS Capital Management LLC increased its position in Tesla by 0.3% during the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after acquiring an additional 45 shares during the last quarter. Daymark Wealth Partners LLC increased its position in Tesla by 0.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after acquiring an additional 45 shares during the last quarter. Finally, ML & R Wealth Management LLC increased its position in Tesla by 2.6% during the third quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock valued at $455,000 after acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.