Tesla (NASDAQ:TSLA) PT Lowered to $180.00 at Mizuho

Tesla (NASDAQ:TSLA) had its target price lowered by Mizuho from $195.00 to $180.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft cut Tesla from a buy rating to a hold rating and decreased their price target for the stock from $189.00 to $123.00 in a research note on Thursday, April 18th. Bank of America raised Tesla from a neutral rating to a buy rating and set a $220.00 target price on the stock in a research note on Wednesday. Canaccord Genuity Group reduced their target price on Tesla from $267.00 to $234.00 and set a buy rating on the stock in a research note on Thursday, January 25th. Morgan Stanley reduced their target price on Tesla from $320.00 to $310.00 and set an overweight rating on the stock in a research note on Thursday, April 4th. Finally, Redburn Atlantic started coverage on Tesla in a research note on Wednesday, January 24th. They set a sell rating and a $170.00 target price on the stock. Eight research 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 MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $186.70.

Tesla Price Performance

Shares of Tesla stock opened at $168.29 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $535.97 billion, a PE ratio of 42.93, a price-to-earnings-growth ratio of 4.28 and a beta of 2.39. The business’s 50-day moving average price is $175.04 and its 200-day moving average price is $208.00. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS 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 analysts’ expectations of $25.64 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $1.07 earnings per share. Sell-side analysts forecast that Tesla will post 1.97 EPS for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a filing with the SEC, which is available at 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 sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 over the last ninety days. 25.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

Hedge funds have recently bought and sold shares of the company. Mount Vernon Associates Inc. MD increased its position in Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after acquiring an additional 350 shares during the last quarter. Oak Ridge Investments LLC increased its position in Tesla by 4.6% during the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after acquiring an additional 1,405 shares during the last quarter. Corient Private Wealth LLC increased its position in Tesla by 3.7% in the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after buying an additional 25,943 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in Tesla by 16.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after buying an additional 6,615 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Tesla by 11.8% in the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after buying an additional 81,729 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.