Tesla (NASDAQ:TSLA) Given New $120.00 Price Target at HSBC

Tesla (NASDAQ:TSLA) had its price objective cut by HSBC from $138.00 to $120.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a reduce rating on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other research reports. Barclays dropped their price target on Tesla from $225.00 to $180.00 and set an equal weight rating on the stock in a research note on Wednesday, April 17th. JPMorgan Chase & Co. decreased their target price on Tesla from $130.00 to $115.00 and set an underweight rating for the company in a report on Wednesday, April 3rd. TD Cowen decreased their target price on Tesla from $200.00 to $180.00 and set a market perform rating for the company in a report on Thursday, January 25th. Canaccord Genuity Group decreased their target price on Tesla from $267.00 to $234.00 and set a buy rating for the company in a report on Thursday, January 25th. Finally, Oppenheimer reaffirmed a market perform rating on shares of Tesla in a report on Wednesday. Eight research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $186.22.

Tesla Price Performance

Shares of TSLA stock opened at $162.13 on Wednesday. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The firm has a market capitalization of $516.35 billion, a price-to-earnings ratio of 41.36, a PEG ratio of 3.82 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The stock’s 50-day simple moving average is $176.28 and its 200-day simple moving average is $208.91.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 13.68% and a net margin of 14.37%. The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. Tesla’s revenue was up 3.5% on a year-over-year basis. As a group, equities analysts forecast that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

Several large investors have recently added to or reduced their stakes in the stock. Intergy Private Wealth LLC grew its holdings in Tesla by 13.7% in the 1st quarter. Intergy Private Wealth LLC now owns 1,397 shares of the electric vehicle producer’s stock valued at $246,000 after buying an additional 168 shares in the last quarter. Leavell Investment Management Inc. grew its holdings in Tesla by 18.3% in the 1st quarter. Leavell Investment Management Inc. now owns 11,977 shares of the electric vehicle producer’s stock valued at $2,161,000 after buying an additional 1,855 shares in the last quarter. PSI Advisors LLC grew its holdings in shares of Tesla by 8.0% during the 1st quarter. PSI Advisors LLC now owns 7,203 shares of the electric vehicle producer’s stock worth $1,266,000 after purchasing an additional 533 shares during the period. Axim Planning & Wealth purchased a new position in shares of Tesla during the 1st quarter worth $215,000. Finally, CENTRAL TRUST Co grew its holdings in shares of Tesla by 10.6% during the 1st quarter. CENTRAL TRUST Co now owns 19,053 shares of the electric vehicle producer’s stock worth $3,349,000 after purchasing an additional 1,828 shares during the period. 66.20% of the stock is currently owned by hedge funds and other 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.