Tesla (NASDAQ:TSLA) Price Target Cut to $375.00 by Analysts at Mizuho

Tesla (NASDAQ:TSLA) had its price objective cut by Mizuho from $430.00 to $375.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an outperform rating on the electric vehicle producer’s stock.

Several other research analysts have also recently commented on TSLA. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and raised their target price for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Barclays lifted their target price on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Stifel Nicolaus dropped their price target on shares of Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Evercore ISI lifted their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Finally, Oppenheimer reissued a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Eight research 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $298.59.

Tesla Stock Performance

NASDAQ TSLA opened at $252.40 on Thursday. The company’s fifty day moving average is $287.99 and its two-hundred day moving average is $323.12. Tesla has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market capitalization of $811.85 billion, a price-to-earnings ratio of 123.73, a P/E/G ratio of 5.86 and a beta of 2.58.

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

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 374,228 shares of company stock valued at $123,791,123. Company insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several large investors have recently bought and sold shares of the company. Breakwater Capital Group grew its holdings in shares of Tesla by 7.4% in the 1st quarter. Breakwater Capital Group now owns 2,639 shares of the electric vehicle producer’s stock valued at $684,000 after buying an additional 182 shares during the period. Retirement Planning Group LLC grew its stake in Tesla by 16.6% in the first quarter. Retirement Planning Group LLC now owns 1,936 shares of the electric vehicle producer’s stock valued at $502,000 after acquiring an additional 276 shares during the period. Chesley Taft & Associates LLC raised its position in shares of Tesla by 10.7% during the first quarter. Chesley Taft & Associates LLC now owns 3,107 shares of the electric vehicle producer’s stock worth $805,000 after purchasing an additional 300 shares during the period. Thrive Wealth Management LLC lifted its holdings in shares of Tesla by 10.6% during the 1st quarter. Thrive Wealth Management LLC now owns 5,046 shares of the electric vehicle producer’s stock valued at $1,308,000 after purchasing an additional 482 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Tesla by 176.5% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,963 shares of the electric vehicle producer’s stock valued at $509,000 after purchasing an additional 1,253 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.