Robert W. Baird Cuts Tesla (NASDAQ:TSLA) Price Target to $320.00

Tesla (NASDAQ:TSLA - Free Report) had its target price reduced by Robert W. Baird from $370.00 to $320.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the electric vehicle producer's stock.

Several other research analysts also recently weighed in on the company. Benchmark cut their price target on Tesla from $475.00 to $350.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Truist Financial cut their price objective on shares of Tesla from $373.00 to $280.00 and set a "hold" rating for the company in a report on Thursday, April 3rd. Wells Fargo & Company lowered their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a report on Friday, March 14th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a research report on Tuesday. Finally, TD Cowen upgraded 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 note on Friday, March 7th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $287.46.

Tesla Stock Performance

Shares of Tesla stock traded up $3.99 during mid-day trading on Wednesday, hitting $263.50. 14,180,611 shares of the stock were exchanged, compared to its average volume of 95,550,646. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market capitalization of $847.56 billion, a P/E ratio of 128.89, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a 50-day simple moving average of $265.36 and a 200 day simple moving average of $322.18. Tesla has a 12 month low of $158.36 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the previous year, the company posted $0.45 EPS. Sell-side analysts anticipate that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $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 accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tesla

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its position in shares of Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock valued at $955,052,000 after acquiring an additional 194,796 shares during the period. McIlrath & Eck LLC boosted its position in Tesla by 6.0% in the third quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer's stock valued at $890,000 after buying an additional 192 shares during the last quarter. Advisory Resource Group raised its position in Tesla by 1.2% during the 3rd quarter. Advisory Resource Group now owns 4,260 shares of the electric vehicle producer's stock worth $1,115,000 after buying an additional 50 shares during the last quarter. Morse Asset Management Inc increased its stake in shares of Tesla by 46.0% in the third quarter. Morse Asset Management Inc now owns 8,712 shares of the electric vehicle producer's stock worth $2,279,000 after acquiring an additional 2,743 shares during the period. Finally, SkyView Investment Advisors LLC raised its stake in shares of Tesla by 31.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 5,579 shares of the electric vehicle producer's stock valued at $1,460,000 after buying an additional 1,334 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.