Tesla (NASDAQ:TSLA) Given New $225.00 Price Target at UBS Group

Tesla (NASDAQ:TSLA) had its price objective decreased by equities researchers at UBS Group from $259.00 to $225.00 in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm presently has a “sell” rating on the electric vehicle producer’s stock. UBS Group’s target price would suggest a potential downside of 7.16% from the stock’s current price.

A number of other research analysts also recently commented on TSLA. Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Piper Sandler lifted their price target on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Benchmark initiated coverage on shares of Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price on the stock. Bank of America decreased their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Morgan Stanley reissued a “top pick” rating and set a $430.00 price target on shares of Tesla in a research report on Monday, March 3rd. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $326.31.

Tesla Trading Down 7.7 %

NASDAQ TSLA traded down $20.32 during mid-day trading on Monday, reaching $242.35. 16,822,142 shares of the stock were exchanged, compared to its average volume of 80,916,945. Tesla has a 1-year low of $138.80 and a 1-year high of $488.54. The business’s fifty day simple moving average is $367.78 and its 200 day simple moving average is $319.38. 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 capitalization of $779.53 billion, a PE ratio of 118.51, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, research analysts anticipate that Tesla will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 422,452 shares of company stock valued at $153,659,530 in the last three months. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC raised its stake in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in Tesla in the third quarter valued at about $29,000. Horrell Capital Management Inc. raised its position in Tesla by 75.6% in the fourth 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 in the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Tesla in the 3rd quarter valued at approximately $35,000. Finally, GS Investments Inc. lifted its position in shares of 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 buying an additional 58 shares during the period. 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.