The Goldman Sachs Group Lowers Tesla (NASDAQ:TSLA) Price Target to $275.00

Tesla (NASDAQ:TSLA) had its price objective dropped by analysts at The Goldman Sachs Group from $320.00 to $275.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the electric vehicle producer’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 1.95% from the stock’s previous close.

Other analysts have also issued research reports about the company. UBS Group reduced their target price on Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a report on Monday, March 10th. Wells Fargo & Company decreased their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Robert W. Baird dropped their price target on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Morgan Stanley decreased their price objective on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Finally, Piper Sandler dropped their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Eight analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $312.65.

Tesla Stock Down 4.6 %

Tesla stock traded down $13.01 during mid-day trading on Thursday, reaching $269.75. The stock had a trading volume of 97,661,387 shares, compared to its average volume of 94,045,317. Tesla has a one year low of $138.80 and a one year high of $488.54. The company has a 50-day moving average price of $312.22 and a two-hundred day moving average price of $323.20. The company has a market capitalization of $867.66 billion, a price-to-earnings ratio of 132.23, a PEG ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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, analysts expect that Tesla will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TSLA. Adirondack Trust Co. lifted its position in Tesla by 3.7% during the first quarter. Adirondack Trust Co. now owns 4,893 shares of the electric vehicle producer’s stock valued at $1,268,000 after purchasing an additional 175 shares during the last quarter. jvl associates llc lifted its holdings in shares of Tesla by 16.8% in the 1st quarter. jvl associates llc now owns 1,317 shares of the electric vehicle producer’s stock valued at $341,000 after acquiring an additional 189 shares during the last quarter. Insight Wealth Strategies LLC grew its position in Tesla by 5.3% in the first quarter. Insight Wealth Strategies LLC now owns 2,863 shares of the electric vehicle producer’s stock worth $742,000 after acquiring an additional 143 shares in the last quarter. Franchise Capital Ltd increased its stake in Tesla by 20.0% during the first quarter. Franchise Capital Ltd now owns 12,815 shares of the electric vehicle producer’s stock worth $3,321,000 after acquiring an additional 2,135 shares during the last quarter. Finally, Park National Corp OH raised its position in Tesla by 5.7% during the first quarter. Park National Corp OH now owns 2,086 shares of the electric vehicle producer’s stock valued at $541,000 after purchasing an additional 113 shares during the period. 66.20% of the stock is currently owned by institutional investors.

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.