Tesla (NASDAQ:TSLA) Price Target Cut to $180.00 by Analysts at Mizuho

Tesla (NASDAQ:TSLA) had its target price reduced by Mizuho from $195.00 to $180.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the electric vehicle producer’s stock.

Several other analysts also recently issued reports on TSLA. The Goldman Sachs Group decreased their target price on Tesla from $190.00 to $175.00 and set a neutral rating on the stock in a research note on Tuesday, April 9th. Redburn Atlantic started coverage on Tesla in a research note on Wednesday, January 24th. They issued a sell rating and a $170.00 price objective on the stock. Guggenheim reaffirmed a sell rating and issued a $122.00 price objective on shares of Tesla in a research note on Tuesday. Oppenheimer reaffirmed a market perform rating on shares of Tesla in a research note on Wednesday. Finally, Morgan Stanley reduced their price objective on Tesla from $320.00 to $310.00 and set an overweight rating on the stock in a research note on Thursday, April 4th. Eight analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of Hold and a consensus price target of $186.22.

Tesla Stock Up 12.1 %

TSLA stock opened at $162.13 on Wednesday. The business’s 50-day moving average price is $176.28 and its 200-day moving average price is $208.91. The stock has a market cap of $516.35 billion, a P/E ratio of 41.36, a PEG ratio of 3.82 and a beta of 2.39. Tesla has a twelve month low of $138.80 and a twelve month high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last issued 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). The business had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.68%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $1.07 EPS. On average, equities research analysts forecast that Tesla will post 1.97 EPS for the current year.

Insiders Place Their Bets

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 directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated 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 directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

A number of hedge funds have recently modified their holdings of the stock. Intergy Private Wealth LLC boosted its stake in shares of Tesla by 13.7% in the first quarter. Intergy Private Wealth LLC now owns 1,397 shares of the electric vehicle producer’s stock worth $246,000 after buying an additional 168 shares during the last quarter. Leavell Investment Management Inc. boosted its position in Tesla by 18.3% during the first quarter. Leavell Investment Management Inc. now owns 11,977 shares of the electric vehicle producer’s stock worth $2,161,000 after purchasing an additional 1,855 shares in the last quarter. PSI Advisors LLC boosted its position in Tesla by 8.0% during the first quarter. PSI Advisors LLC now owns 7,203 shares of the electric vehicle producer’s stock worth $1,266,000 after purchasing an additional 533 shares in the last quarter. Axim Planning & Wealth purchased a new position in Tesla during the first quarter worth approximately $215,000. Finally, CENTRAL TRUST Co boosted its position in Tesla by 10.6% during the first quarter. CENTRAL TRUST Co now owns 19,053 shares of the electric vehicle producer’s stock worth $3,349,000 after purchasing an additional 1,828 shares in 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.