Tesla (NASDAQ:TSLA) Price Target Lowered to $345.00 at Deutsche Bank Aktiengesellschaft

Tesla (NASDAQ:TSLA - Free Report) had its price target decreased by Deutsche Bank Aktiengesellschaft from $420.00 to $345.00 in a research report report published on Friday morning, MarketBeat.com reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the electric vehicle producer's stock.

Other equities analysts also recently issued reports about the company. Benchmark assumed coverage on Tesla in a research note on Wednesday, February 12th. They issued a "buy" rating and a $475.00 price target for the company. Mizuho decreased their target price on Tesla from $515.00 to $430.00 and set an "outperform" rating for the company in a research report on Monday, March 17th. JPMorgan Chase & Co. dropped their price target on Tesla from $135.00 to $120.00 and set an "underweight" rating on the stock in a research report on Wednesday, March 12th. Barclays boosted their target price on shares of Tesla from $270.00 to $325.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 15th. Finally, Morgan Stanley reduced their price target on shares of Tesla from $430.00 to $410.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Nine investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus target price of $318.34.

Remove Ads

Tesla Stock Down 3.5 %

NASDAQ TSLA traded down $9.58 during mid-day trading on Friday, reaching $263.55. 123,100,723 shares of the company's stock traded hands, compared to its average volume of 93,218,015. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a fifty day simple moving average of $321.33 and a 200-day simple moving average of $322.34. The company has a market cap of $847.71 billion, a price-to-earnings ratio of 129.19, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. As a group, equities research analysts expect that Tesla will post 2.56 EPS for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business's 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 owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Hengehold Capital Management LLC increased its position in Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock worth $544,000 after buying an additional 24 shares during the last quarter. Strategic Investment Advisors MI boosted its stake in shares of Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock worth $2,823,000 after acquiring an additional 24 shares in the last quarter. Acropolis Investment Management LLC increased its holdings in shares of Tesla by 0.9% during the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer's stock valued at $1,136,000 after acquiring an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD raised its stake in shares of Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer's stock valued at $2,950,000 after acquiring an additional 25 shares in the last quarter. Finally, Vista Finance LLC lifted its holdings in Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock worth $1,417,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

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.