Tesla (NASDAQ:TSLA) Price Target Cut to $145.00

Tesla (NASDAQ:TSLA) had its target price decreased by investment analysts at Evercore ISI from $155.00 to $145.00 in a report released on Monday, Benzinga reports. The firm currently has an “in-line” rating on the electric vehicle producer’s stock. Evercore ISI’s price target indicates a potential downside of 20.89% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price target on shares of Tesla in a research report on Wednesday, April 24th. JPMorgan Chase & Co. reduced their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Royal Bank of Canada reduced their price target on Tesla from $294.00 to $293.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. Finally, Truist Financial reduced their price target on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $184.32.

Tesla Stock Performance

Tesla stock opened at $183.28 on Monday. The company has a 50 day moving average price of $174.71 and a 200-day moving average price of $206.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company has a market capitalization of $584.52 billion, a PE ratio of 46.76, a P/E/G ratio of 4.45 and a beta of 2.40.

Insider Buying and Selling at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated 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 transaction, 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. In the last 90 days, insiders have sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

Institutional investors have recently made changes to their positions in the stock. Lodestone Wealth Management LLC raised its position in Tesla by 18.9% during the first quarter. Lodestone Wealth Management LLC now owns 1,906 shares of the electric vehicle producer’s stock valued at $335,000 after acquiring an additional 303 shares in the last quarter. Hartline Investment Corp raised its position in Tesla by 2,631.2% during the first quarter. Hartline Investment Corp now owns 30,344 shares of the electric vehicle producer’s stock valued at $5,334,000 after acquiring an additional 29,233 shares in the last quarter. North Star Investment Management Corp. raised its position in shares of Tesla by 19.3% in the first quarter. North Star Investment Management Corp. now owns 3,199 shares of the electric vehicle producer’s stock valued at $562,000 after purchasing an additional 517 shares during the period. Ables Iannone Moore & Associates Inc. raised its position in shares of Tesla by 42.8% in the first quarter. Ables Iannone Moore & Associates Inc. now owns 4,462 shares of the electric vehicle producer’s stock valued at $784,000 after purchasing an additional 1,338 shares during the period. Finally, Norden Group LLC raised its position in shares of Tesla by 43.3% in the first quarter. Norden Group LLC now owns 10,645 shares of the electric vehicle producer’s stock valued at $1,871,000 after purchasing an additional 3,218 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.