Tesla (NASDAQ:TSLA) Price Target Lowered to $162.00 at Truist Financial

Tesla (NASDAQ:TSLA) had its price target cut by Truist Financial from $176.00 to $162.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a hold rating on the electric vehicle producer’s stock.

A number of other research firms have also weighed in on TSLA. Wedbush reaffirmed an outperform rating and set a $300.00 price objective on shares of Tesla in a research report on Friday, April 19th. Barclays cut their price objective on Tesla from $225.00 to $180.00 and set an equal weight rating on the stock in a research report on Wednesday, April 17th. Bank of America raised Tesla from a neutral rating to a buy rating and set a $220.00 price objective on the stock in a research report on Wednesday. Mizuho reiterated a neutral rating and set a $195.00 target price (down previously from $270.00) on shares of Tesla in a research note on Monday, March 25th. Finally, Redburn Atlantic initiated coverage on shares of Tesla in a research note on Wednesday, January 24th. They set a sell rating and a $170.00 target price for the company. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $186.22.

Tesla Stock Up 12.1 %

Shares of NASDAQ TSLA opened at $162.13 on Wednesday. The firm has a market cap 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 quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29. The business’s 50 day moving average is $176.28 and its two-hundred day moving average is $208.91.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the company posted $1.07 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. Research analysts predict that Tesla will post 1.97 EPS for the current year.

Insider Buying and Selling

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The sale was disclosed in a filing with the SEC, which is available at this link. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated 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 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 this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 over the last ninety days. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Several large investors have recently modified their holdings of TSLA. Mount Vernon Associates Inc. MD grew its position in shares of Tesla by 5.3% in 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 purchasing an additional 350 shares during the last quarter. Oak Ridge Investments LLC grew its position in shares of Tesla by 4.6% in 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 purchasing an additional 1,405 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Tesla by 3.7% in the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after purchasing an additional 25,943 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in shares of 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 valued at $11,533,000 after purchasing an additional 6,615 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Tesla by 11.8% in the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after purchasing an additional 81,729 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.