Piper Sandler Lowers Tesla (NASDAQ:TSLA) Price Target to $400.00

Tesla (NASDAQ:TSLA - Free Report) had its target price reduced by Piper Sandler from $450.00 to $400.00 in a report issued on Wednesday morning, MarketBeat reports. They currently have an overweight rating on the electric vehicle producer's stock.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group reduced their price objective on shares of Tesla from $320.00 to $275.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Wedbush reduced their target price on Tesla from $550.00 to $315.00 and set an "outperform" rating on the stock in a research report on Monday, April 7th. Royal Bank of Canada cut their price objective on shares of Tesla from $440.00 to $320.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. HSBC cut their price target on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research note on Thursday, March 27th. Finally, Barclays lifted their price target on Tesla from $270.00 to $325.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 15th. Nine investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and an average price target of $292.18.

Tesla Stock Down 0.2 %

Shares of TSLA stock traded down $0.39 during mid-day trading on Wednesday, hitting $241.17. The stock had a trading volume of 83,173,157 shares, compared to its average volume of 95,997,504. 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's 50-day moving average is $275.67 and its two-hundred day moving average is $322.33. The firm has a market capitalization of $775.71 billion, a P/E ratio of 118.22, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. On average, analysts predict that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In related news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at $41,745,581.15. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 374,228 shares of company stock valued at $123,791,123 in the last 90 days. Company insiders own 20.70% of the company's stock.

Institutional Trading of Tesla

Several hedge funds have recently added to or reduced their stakes in the company. Destination Wealth Management grew its stake in shares of Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock worth $3,296,000 after purchasing an additional 1,359 shares in the last quarter. Stephens Consulting LLC lifted its holdings in Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock worth $644,000 after buying an additional 891 shares during the last quarter. Worth Asset Management LLC boosted its position in shares of Tesla by 383.1% during the 4th quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer's stock worth $3,358,000 after acquiring an additional 6,593 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. raised its position in shares of Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after acquiring an additional 1,629 shares in the last quarter. Finally, Ameritas Advisory Services LLC lifted its stake in Tesla by 104.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer's stock worth $23,242,000 after purchasing an additional 29,458 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.