Tesla (NASDAQ:TSLA) Stock Rating Lowered by Deutsche Bank Aktiengesellschaft

Tesla (NASDAQ:TSLA) was downgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report issued on Thursday, MarketBeat Ratings reports. They presently have a $123.00 price objective on the electric vehicle producer’s stock, down from their previous price objective of $189.00. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential downside of 16.35% from the stock’s current price.

TSLA has been the subject of several other research reports. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Wednesday. China Renaissance started coverage on shares of Tesla in a research report on Monday, February 26th. They issued a “hold” rating for the company. Jefferies Financial Group dropped their price objective on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Citigroup dropped their price objective on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Finally, Piper Sandler dropped their price objective on shares of Tesla from $225.00 to $205.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Ten research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $194.70.

Tesla Stock Performance

NASDAQ:TSLA opened at $147.05 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The company has a market cap of $468.32 billion, a P/E ratio of 34.12, a P/E/G ratio of 4.11 and a beta of 2.39. Tesla has a fifty-two week low of $146.22 and a fifty-two week high of $299.29. The firm’s 50 day moving average is $178.51 and its two-hundred day moving average is $211.48.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results 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). The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 EPS. Analysts expect that Tesla will post 1.97 EPS for the current year.

Insider Buying and Selling

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 transaction of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Over the last three months, insiders sold 209,098 shares of company stock worth $38,802,534. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently made changes to their positions in TSLA. Axiom Financial Strategies LLC increased its stake in shares of Tesla by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after acquiring an additional 81 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Tesla by 19.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after acquiring an additional 164,789 shares during the period. MAS Advisors LLC increased its stake in shares of Tesla by 25.7% during the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after acquiring an additional 81 shares during the period. Ergoteles LLC increased its stake in shares of Tesla by 33.4% during the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock valued at $3,844,000 after acquiring an additional 893 shares during the period. Finally, Mackenzie Financial Corp increased its stake in shares of Tesla by 6.8% during the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after acquiring an additional 4,593 shares during the period. Institutional investors own 66.20% of the company’s stock.

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.