Tesla (NASDAQ:TSLA) Price Target Lowered to $315.00 at Wedbush

Tesla (NASDAQ:TSLA) had its target price decreased by Wedbush from $550.00 to $315.00 in a research note released on Monday morning, Marketbeat.com reports. Wedbush currently has an outperform rating on the electric vehicle producer’s stock.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus cut their price objective on shares of Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Glj Research restated a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a report on Monday, January 6th. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, Wells Fargo & Company decreased their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Eight equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $305.31.

Tesla Stock Down 2.6 %

TSLA stock opened at $233.29 on Monday. The company has a market cap of $750.38 billion, a price-to-earnings ratio of 114.36, a PEG ratio of 5.86 and a beta of 2.58. The firm has a 50-day moving average of $302.70 and a two-hundred day moving average of $324.17. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, analysts forecast that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 370,228 shares of company stock worth $122,791,123 over the last 90 days. 20.70% of the stock is owned by insiders.

Institutional Trading of Tesla

Institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares during the period. Horrell Capital Management Inc. boosted its stake in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. grew its position in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC acquired a new position in Tesla in the fourth quarter valued at $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the fourth quarter valued at about $38,000. 66.20% of the stock is owned by hedge funds and other 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.