Tesla (NASDAQ:TSLA) Given New $222.00 Price Target at Canaccord Genuity Group

Tesla (NASDAQ:TSLA) had its price objective lowered by analysts at Canaccord Genuity Group from $234.00 to $222.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the electric vehicle producer’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 30.45% from the stock’s current price.

Other analysts have also issued reports about the stock. Wells Fargo & Company reduced their price target on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research note on Friday, April 12th. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Barclays cut their target price on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Redburn Atlantic began coverage on shares of Tesla in a research note on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price for the company. Finally, Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Wednesday. Eight equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $186.70.

Tesla Trading Up 5.0 %

Shares of NASDAQ:TSLA opened at $170.18 on Wednesday. The company has a 50 day moving average of $175.67 and a 200-day moving average of $208.64. The firm has a market cap of $541.99 billion, a P/E ratio of 43.41, a P/E/G ratio of 3.82 and a beta of 2.39. Tesla has a twelve month low of $138.80 and a twelve month high of $299.29. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 13.68% and a net margin of 14.37%. The company’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.07 earnings per share. As a group, analysts anticipate that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred 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 directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

Several large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Tesla during the 4th quarter worth $7,844,757,000. International Assets Investment Management LLC boosted its holdings in shares of Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Tesla by 34.0% during the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after buying an additional 2,293,344 shares during the period. Finally, Morgan Stanley boosted 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 worth $7,546,823,000 after buying an additional 2,177,397 shares during the period. 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.