Tesla (NASDAQ:TSLA) PT Lowered to $120.00 at Wells Fargo & Company

Tesla (NASDAQ:TSLA) had its price target trimmed by Wells Fargo & Company from $125.00 to $120.00 in a research note issued to investors on Friday, Marketbeat.com reports. The firm currently has an underweight rating on the electric vehicle producer’s stock.

Several other equities analysts have also commented on TSLA. Edward Jones lowered shares of Tesla from a buy rating to a hold rating in a report on Friday, January 26th. Sanford C. Bernstein lowered their price target on Tesla from $150.00 to $120.00 and set an underperform rating for the company in a research report on Tuesday, March 26th. HSBC decreased their target price on Tesla from $143.00 to $138.00 and set a reduce rating on the stock in a research note on Wednesday, April 3rd. Wedbush dropped their target price on Tesla from $315.00 to $300.00 and set an outperform rating for the company in a research report on Thursday, March 28th. Finally, Royal Bank of Canada reissued an outperform rating and set a $298.00 price target on shares of Tesla in a research report on Wednesday, March 27th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $198.81.

Tesla Stock Performance

Tesla stock opened at $171.05 on Friday. The firm has a 50 day simple moving average of $181.83 and a 200-day simple moving average of $214.30. The stock has a market cap of $544.76 billion, a price-to-earnings ratio of 39.69, a price-to-earnings-growth ratio of 4.40 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. Tesla has a 1-year low of $152.37 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $25.64 billion. During the same period last year, the business earned $1.07 EPS. Tesla’s revenue was up 3.5% compared to the same quarter last year. On average, analysts expect that Tesla will post 1.98 EPS for the current year.

Insider Transactions at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred 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 sale, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The shares were 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 SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s 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 completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Hedge funds have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. acquired a new stake in shares of Tesla during the 3rd quarter worth $25,000. Wyrmwood Management LLC acquired a new stake in Tesla during the fourth quarter worth about $25,000. Lam Group Inc. purchased a new position in shares of Tesla in the 4th quarter worth about $25,000. Halpern Financial Inc. lifted its stake in shares of Tesla by 1,111.1% in the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. Finally, Alpha Paradigm Partners LLC purchased a new stake in shares of Tesla during the 3rd quarter worth about $27,000. 66.20% of the stock is owned by institutional investors and hedge funds.

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.