Tesla (NASDAQ:TSLA) Price Target Cut to $300.00 by Analysts at Piper Sandler

Tesla (NASDAQ:TSLA – Get Rating) had its price target reduced by Piper Sandler from $340.00 to $300.00 in a research report report published on Wednesday, The Fly reports.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company decreased their price target on shares of Tesla from $230.00 to $130.00 and set an equal weight rating on the stock in a research note on Friday, January 13th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Tesla from $270.00 to $250.00 in a report on Tuesday, January 3rd. Roth Capital boosted their target price on shares of Tesla from $83.33 to $85.00 and gave the stock a neutral rating in a report on Thursday, October 20th. Jefferies Financial Group reduced their target price on shares of Tesla from $350.00 to $180.00 and set a buy rating on the stock in a report on Tuesday. Finally, StockNews.com began coverage on shares of Tesla in a report on Wednesday, October 12th. They issued a hold rating on the stock. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has a consensus rating of Hold and an average price target of $219.23.

Tesla Stock Down 2.1 %

TSLA opened at $128.78 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.46. Tesla has a fifty-two week low of $101.81 and a fifty-two week high of $384.29. The firm’s fifty day moving average is $153.24 and its 200 day moving average is $223.34. The stock has a market cap of $406.66 billion, a price-to-earnings ratio of 39.79, a price-to-earnings-growth ratio of 0.95 and a beta of 2.02.

Tesla (NASDAQ:TSLA – Get Rating) last announced its quarterly earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. The business had revenue of $21.45 billion for the quarter, compared to analysts’ expectations of $21.96 billion. Tesla had a net margin of 14.95% and a return on equity of 31.10%. The business’s quarterly revenue was up 55.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.48 EPS. On average, sell-side analysts forecast that Tesla will post 3.6 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, CFO Zachary Kirkhorn sold 3,752 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total transaction of $410,131.12. Following the completion of the sale, the chief financial officer now owns 200,411 shares of the company’s stock, valued at $21,906,926.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $229.95, for a total value of $2,414,475.00. Following the sale, the senior vice president now owns 62,988 shares in the company, valued at $14,484,090.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Zachary Kirkhorn sold 3,752 shares of the stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $109.31, for a total transaction of $410,131.12. Following the completion of the sale, the chief financial officer now owns 200,411 shares in the company, valued at approximately $21,906,926.41. The disclosure for this sale can be found here. Insiders sold 24,172,833 shares of company stock valued at $4,492,567,309 over the last 90 days. Insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Tesla by 212.2% during the third quarter. Vanguard Group Inc. now owns 213,024,517 shares of the electric vehicle producer’s stock valued at $56,504,752,000 after buying an additional 144,784,989 shares during the period. State Street Corp lifted its holdings in Tesla by 213.5% during the third quarter. State Street Corp now owns 99,647,239 shares of the electric vehicle producer’s stock valued at $26,431,430,000 after purchasing an additional 67,859,515 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Tesla by 229.9% during the third quarter. Price T Rowe Associates Inc. MD now owns 46,956,884 shares of the electric vehicle producer’s stock valued at $12,493,433,000 after purchasing an additional 32,723,798 shares in the last quarter. Jennison Associates LLC lifted its holdings in Tesla by 200.2% during the third quarter. Jennison Associates LLC now owns 29,557,607 shares of the electric vehicle producer’s stock valued at $7,840,155,000 after purchasing an additional 19,711,687 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in Tesla by 196.4% during the third quarter. Baillie Gifford & Co. now owns 27,876,833 shares of the electric vehicle producer’s stock valued at $7,394,330,000 after purchasing an additional 18,472,529 shares in the last quarter. Institutional investors and hedge funds own 43.00% of the company’s stock.

About Tesla

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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.