HSBC Cuts Tesla (NASDAQ:TSLA) Price Target to $138.00

Tesla (NASDAQ:TSLAFree Report) had its target price reduced by HSBC from $143.00 to $138.00 in a report released on Wednesday, Marketbeat Ratings reports. They currently have a reduce rating on the electric vehicle producer’s stock.

A number of other brokerages have also weighed in on TSLA. Morgan Stanley reissued an overweight rating and set a $320.00 price target on shares of Tesla in a research note on Wednesday, March 27th. Robert W. Baird reduced their target price on Tesla from $300.00 to $280.00 and set an outperform rating on the stock in a research report on Tuesday. Citigroup lowered their price target on Tesla from $224.00 to $196.00 and set a neutral rating for the company in a report on Wednesday, March 27th. Barclays dropped their target price on shares of Tesla from $250.00 to $225.00 and set an equal weight rating for the company in a research report on Thursday, January 25th. Finally, Mizuho restated a neutral rating and set a $195.00 price objective (down previously from $270.00) on shares of Tesla in a research note on Monday, March 25th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of Hold and a consensus price target of $202.00.

View Our Latest Stock Report on Tesla

Tesla Stock Performance

NASDAQ TSLA opened at $168.38 on Wednesday. The business has a fifty day moving average of $184.80 and a 200-day moving average of $218.91. Tesla has a fifty-two week low of $152.37 and a fifty-two week high of $299.29. The stock has a market cap of $536.26 billion, a price-to-earnings ratio of 39.07, a price-to-earnings-growth ratio of 4.06 and a beta of 2.39. 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:TSLAGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm 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 business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.07 earnings per share. As a group, analysts predict that Tesla will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated 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 transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the 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 completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares during the period. State Street Corp lifted its position in Tesla by 4.4% in the 2nd quarter. State Street Corp now owns 104,115,390 shares of the electric vehicle producer’s stock worth $27,254,286,000 after buying an additional 4,431,570 shares in the last quarter. Norges Bank acquired a new stake in shares of Tesla during the 4th quarter valued at $7,844,757,000. Morgan Stanley grew its holdings in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after acquiring an additional 2,177,397 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Tesla by 0.9% in the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after acquiring an additional 269,182 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Company Profile

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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; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.

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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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