Tesla (NASDAQ:TSLA – Free Report) had its price objective lowered by Robert W. Baird from $440.00 to $370.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the electric vehicle producer’s stock.
Other research analysts also recently issued research reports about the company. Wells Fargo & Company upped their price objective on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, January 30th. Truist Financial increased their price target on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research note on Monday, March 3rd. Glj Research reiterated a “sell” rating and set a $24.86 price target on shares of Tesla in a research note on Wednesday, February 12th. Finally, Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Nine investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $327.37.
Check Out Our Latest Report on Tesla
Tesla Trading Down 0.3 %
NASDAQ TSLA opened at $262.67 on Thursday. The firm has a market capitalization of $844.88 billion, a P/E ratio of 128.76, a PEG ratio of 5.86 and a beta of 2.50. The business has a fifty day simple moving average of $367.78 and a 200 day simple moving average of $318.71. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 predict that Tesla will post 2.56 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the director now owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 422,452 shares of company stock worth $153,659,530 in the last ninety days. 20.70% of the stock is owned by insiders.
Institutional Investors Weigh In On Tesla
Several hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Tesla in the fourth quarter worth $14,420,248,000. FMR LLC increased its position in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. Strategic Financial Concepts LLC increased its position in Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after acquiring an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after acquiring an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp increased its position in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. 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.
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