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

Tesla (NASDAQ:TSLA) had its price target trimmed by UBS Group from $160.00 to $147.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the electric vehicle producer’s stock.

A number of other equities analysts have also recently commented on the stock. TD Cowen decreased their target price on shares of Tesla from $200.00 to $180.00 and set a market perform rating on the stock in a research report on Thursday, January 25th. Royal Bank of Canada decreased their price objective on Tesla from $294.00 to $293.00 and set an outperform rating on the stock in a report on Wednesday. Canaccord Genuity Group dropped their target price on Tesla from $267.00 to $234.00 and set a buy rating for the company in a report on Thursday, January 25th. Truist Financial decreased their price target on Tesla from $176.00 to $162.00 and set a hold rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC reissued a hold rating on shares of Tesla in a research note on Wednesday. Eight investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $186.22.

Tesla Stock Up 12.1 %

Shares of NASDAQ:TSLA opened at $162.13 on Wednesday. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29. The firm has a fifty day moving average of $176.28 and a 200 day moving average of $208.91. The firm has a market capitalization of $516.35 billion, a PE ratio of 41.36, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39. 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 (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 13.68% and a net margin of 14.37%. The company had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter last year, the firm posted $1.07 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. As a group, research analysts anticipate that Tesla will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In related 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 sale, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated 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 approximately $2,631,600. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wyrmwood Management LLC purchased a new stake in shares of Tesla during the fourth quarter valued at $25,000. Lam Group Inc. bought a new position in Tesla during the 4th quarter valued at about $25,000. Mendota Financial Group LLC boosted its holdings in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares during the last quarter. Ogorek Anthony Joseph NY ADV raised its holdings in shares of Tesla by 94.5% during the third 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 bought a new position in Tesla during the fourth quarter valued at approximately $37,000. 66.20% of the stock is owned by institutional investors.

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.