Tesla (NASDAQ:TSLA) Price Target Lowered to $147.00 at UBS Group

Tesla (NASDAQ:TSLA) had its target price cut by UBS Group from $160.00 to $147.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the electric vehicle producer’s stock. UBS Group’s price objective would indicate a potential downside of 8.59% from the stock’s previous close.

A number of other brokerages have also recently commented on TSLA. Canaccord Genuity Group reduced their target price on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Truist Financial lowered their price objective on shares of Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday. Morgan Stanley cut their price target on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Canaccord Genuity Group reduced their price target on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Roth Mkm reiterated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research report on Wednesday. Eight investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $186.81.

Tesla Stock Up 11.1 %

Shares of TSLA traded up $16.13 during midday trading on Wednesday, reaching $160.81. The stock had a trading volume of 137,792,797 shares, compared to its average volume of 102,388,695. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The company’s fifty day simple moving average is $176.81 and its two-hundred day simple moving average is $209.24. The company has a market cap of $512.15 billion, a price-to-earnings ratio of 37.26, a PEG ratio of 3.75 and a beta of 2.39. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business 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 firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $1.07 earnings per share. Equities research analysts expect that Tesla will post 1.97 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 in the last 90 days. 20.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

A number of hedge funds have recently bought and sold shares of TSLA. Wyrmwood Management LLC acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $25,000. Lam Group Inc. bought a new stake in shares of Tesla during the 4th quarter valued at $25,000. Mendota Financial Group LLC increased its position in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV lifted its position in Tesla by 94.5% during the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 69 shares during the period. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla in the 4th quarter valued at $37,000. 66.20% of the stock is owned by institutional investors.

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.