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

Tesla (NASDAQ:TSLA) had its price target decreased by analysts at Canaccord Genuity Group from $234.00 to $222.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the electric vehicle producer’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 53.44% from the company’s previous close.

Other analysts have also issued reports about the stock. The Goldman Sachs Group cut their price target on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Jefferies Financial Group lowered their price objective on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Wells Fargo & Company lowered their price objective on Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research report on Friday, April 12th. Redburn Atlantic initiated coverage on Tesla in a research report on Wednesday, January 24th. They set a “sell” rating and a $170.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $187.67.

Tesla Stock Up 1.9 %

NASDAQ TSLA opened at $144.68 on Wednesday. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $176.81 and its 200-day simple moving average is $209.24. The firm has a market cap of $460.78 billion, a PE ratio of 33.57, a P/E/G ratio of 3.75 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The firm’s revenue was up 3.5% on a year-over-year basis. As a group, equities analysts anticipate that Tesla will post 1.97 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on 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 completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on 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 sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction 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 in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

Large investors have recently made changes to their positions in the stock. GHP Investment Advisors Inc. boosted its stake in Tesla by 18.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 922 shares of the electric vehicle producer’s stock worth $232,000 after buying an additional 146 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Tesla by 73.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 7,430 shares of the electric vehicle producer’s stock worth $1,859,000 after buying an additional 3,156 shares during the last quarter. Capital Asset Advisory Services LLC raised its holdings in shares of Tesla by 14.6% in the 3rd quarter. Capital Asset Advisory Services LLC now owns 15,072 shares of the electric vehicle producer’s stock worth $3,964,000 after purchasing an additional 1,923 shares during the period. Leverty Financial Group LLC purchased a new position in shares of Tesla in the 3rd quarter worth about $213,000. Finally, Roman Butler Fullerton & Co. raised its holdings in shares of Tesla by 3.8% in the 3rd quarter. Roman Butler Fullerton & Co. now owns 1,314 shares of the electric vehicle producer’s stock worth $330,000 after purchasing an additional 48 shares during the period. Institutional investors and hedge funds 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.