UBS Group Issues Pessimistic Forecast for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA) had its target price decreased by equities research analysts at UBS Group from $225.00 to $190.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “sell” rating on the electric vehicle producer’s stock. UBS Group’s price objective would suggest a potential downside of 24.59% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research note on Monday, January 6th. Guggenheim cut their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research report on Wednesday, March 12th. Piper Sandler decreased their target price on Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Finally, The Goldman Sachs Group cut their price target on Tesla from $320.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Eight equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $298.59.

Tesla Stock Down 0.2 %

TSLA opened at $251.96 on Thursday. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market cap of $810.42 billion, a price-to-earnings ratio of 123.51, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The firm’s fifty day moving average is $285.19 and its 200 day moving average is $323.09.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. On average, sell-side analysts forecast that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $41,745,581.15. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 374,228 shares of company stock valued at $123,791,123. Corporate insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Destination Wealth Management raised its holdings in Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares in the last quarter. Stephens Consulting LLC grew its position in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after buying an additional 891 shares during the last quarter. Worth Asset Management LLC raised its stake in shares of Tesla by 383.1% during the 4th quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer’s stock worth $3,358,000 after acquiring an additional 6,593 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. lifted its position in Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after acquiring an additional 1,629 shares during the last quarter. Finally, Ameritas Advisory Services LLC boosted its stake in Tesla by 104.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock valued at $23,242,000 after acquiring an additional 29,458 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

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.