Tesla (NASDAQ:TSLA) Price Target Cut to $120.00

Tesla (NASDAQ:TSLAGet Free Report) had its price objective decreased by stock analysts at Sanford C. Bernstein from $150.00 to $120.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “underperform” rating on the electric vehicle producer’s stock. Sanford C. Bernstein’s target price suggests a potential downside of 30.49% from the company’s previous close.

A number of other analysts also recently issued reports on TSLA. Edward Jones downgraded Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. TD Cowen dropped their price target on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. Guggenheim lifted their target price on Tesla from $125.00 to $132.00 and gave the stock a “sell” rating in a report on Friday, December 15th. UBS Group decreased their price objective on shares of Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Finally, Jefferies Financial Group reduced their price target on Tesla from $225.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, January 29th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $208.04.

View Our Latest Analysis on Tesla

Tesla Price Performance

NASDAQ TSLA opened at $172.63 on Tuesday. The stock has a market cap of $549.79 billion, a price-to-earnings ratio of 40.05, a PEG ratio of 3.84 and a beta of 2.41. Tesla has a 12 month low of $152.37 and a 12 month high of $299.29. The company’s 50 day moving average is $190.26 and its two-hundred day moving average is $223.41. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period last year, the company earned $1.07 EPS. The business’s revenue was up 3.5% on a year-over-year basis. As a group, research analysts anticipate that Tesla will post 2.45 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related 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 value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,631,600. The disclosure for this sale can be found here. Insiders sold 198,598 shares of company stock valued at $36,952,434 in the last 90 days. Company insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several institutional investors have recently added to or reduced their stakes in TSLA. Contravisory Investment Management Inc. acquired a new position in shares of Tesla in the 3rd quarter valued at $25,000. Wyrmwood Management LLC purchased a new position in shares of Tesla during the fourth quarter worth about $25,000. Lam Group Inc. acquired a new stake in shares of Tesla during the fourth quarter worth about $25,000. Halpern Financial Inc. lifted its stake in Tesla by 1,111.1% in the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Finally, Alpha Paradigm Partners LLC purchased a new position in shares of Tesla during the third quarter worth approximately $27,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

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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; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.

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