Tesla (NASDAQ:TSLA) Price Target Cut to $180.00

Tesla (NASDAQ:TSLA) had its price objective lowered by Mizuho from $195.00 to $180.00 in a report released on Wednesday morning, Benzinga reports. Mizuho currently has a neutral rating on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other reports. Canaccord Genuity Group reduced their target price on shares of Tesla from $267.00 to $234.00 and set a buy rating for the company in a report on Thursday, January 25th. Jefferies Financial Group reduced their target price on shares of Tesla from $185.00 to $165.00 and set a hold rating for the company in a report on Wednesday, April 10th. Wells Fargo & Company reduced their target price on shares of Tesla from $125.00 to $120.00 and set an underweight rating for the company in a report on Friday, April 12th. The Goldman Sachs Group reduced their target price on shares of Tesla from $190.00 to $175.00 and set a neutral rating for the company in a report on Tuesday, April 9th. Finally, Citigroup reduced their target price on shares of Tesla from $196.00 to $180.00 and set a neutral rating for the company in a report on Friday, April 12th. Eight investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $186.70.

Tesla Trading Down 1.1 %

Tesla stock opened at $168.29 on Wednesday. The firm has a 50 day simple moving average of $175.04 and a 200-day simple moving average of $208.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.25. The stock has a market capitalization of $535.97 billion, a PE ratio of 42.93, a price-to-earnings-growth ratio of 4.28 and a beta of 2.39. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business earned $1.07 earnings per share. As a group, equities research analysts expect that Tesla will post 1.97 EPS for the current fiscal year.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in Tesla in the 4th quarter valued at $7,844,757,000. International Assets Investment Management LLC grew its stake in Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after buying an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. grew its stake in Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after buying an additional 3,866,361 shares during the last quarter. California Public Employees Retirement System grew its stake in Tesla by 34.0% in the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock valued at $2,260,039,000 after buying an additional 2,293,344 shares during the last quarter. Finally, Morgan Stanley grew its stake in Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares during the last quarter. 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.