Tesla (NASDAQ:TSLA) Price Target Cut to $145.00 by Analysts at Evercore ISI

Tesla (NASDAQ:TSLA) had its target price lowered by Evercore ISI from $155.00 to $145.00 in a research note issued to investors on Monday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the electric vehicle producer’s stock.

Several other equities analysts have also recently issued reports on the stock. Sanford C. Bernstein decreased their price target on shares of Tesla from $150.00 to $120.00 and set an underperform rating for the company in a research report on Tuesday, March 26th. UBS Group lowered their target price on Tesla from $160.00 to $147.00 and set a neutral rating for the company in a research report on Wednesday, April 24th. Robert W. Baird reiterated an outperform rating and issued a $280.00 price target on shares of Tesla in a research report on Wednesday, April 17th. Truist Financial lowered their price objective on Tesla from $176.00 to $162.00 and set a hold rating for the company in a research report on Wednesday, April 24th. Finally, Edward Jones lowered Tesla from a buy rating to a hold rating in a research note on Friday, January 26th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Tesla presently has an average rating of Hold and a consensus price target of $184.32.

Tesla Stock Performance

NASDAQ:TSLA opened at $194.05 on Monday. The stock’s 50-day moving average is $174.92 and its 200-day moving average is $206.77. The stock has a market cap of $618.86 billion, a P/E ratio of 49.50, a price-to-earnings-growth ratio of 4.45 and a beta of 2.40. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,631,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 over the last 90 days. Insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

A number of large investors have recently added to or reduced their stakes in TSLA. Mount Vernon Associates Inc. MD boosted its holdings in Tesla by 5.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after buying an additional 350 shares during the period. Oak Ridge Investments LLC lifted its position in shares of Tesla by 4.6% during the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after acquiring an additional 1,405 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Tesla by 3.7% in the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after acquiring an additional 25,943 shares during the period. J.W. Cole Advisors Inc. raised its stake in shares of Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after purchasing an additional 6,615 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Tesla by 11.8% during the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after purchasing an additional 81,729 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.