Tesla (NASDAQ:TSLA) Price Target Cut to $147.00 by Analysts at UBS Group

Tesla (NASDAQ:TSLA) had its price objective dropped by investment analysts at UBS Group from $160.00 to $147.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the electric vehicle producer’s stock. UBS Group’s price target would indicate a potential downside of 13.62% from the stock’s current price.

Several other analysts have also recently weighed in on TSLA. Barclays reduced their target price on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Edward Jones cut shares of Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Wednesday. The Goldman Sachs Group reduced their target price on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Finally, Canaccord Genuity Group reduced their target price on shares of Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a report on Wednesday. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $186.70.

Tesla Trading Up 5.0 %

NASDAQ TSLA opened at $170.18 on Wednesday. The firm has a 50 day simple moving average of $175.67 and a 200-day simple moving average of $208.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla has a one year low of $138.80 and a one year high of $299.29. The firm has a market cap of $541.99 billion, a price-to-earnings ratio of 43.41, a PEG ratio of 3.82 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.68%. The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the previous year, the business posted $1.07 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Tesla will post 1.97 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 in the last three months. Insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wyrmwood Management LLC acquired a new position in shares of Tesla during the 4th quarter worth $25,000. Lam Group Inc. acquired a new position in Tesla in the 4th quarter valued at about $25,000. Mendota Financial Group LLC raised its stake in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the last quarter. Ogorek Anthony Joseph NY ADV raised its stake in Tesla by 94.5% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new position in Tesla in the 4th quarter valued at about $37,000. Institutional investors and hedge funds 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.