Tesla (NASDAQ:TSLA) Price Target Lowered to $120.00 at JPMorgan Chase & Co.

Tesla (NASDAQ:TSLA - Get Free Report) had its target price decreased by JPMorgan Chase & Co. from $135.00 to $120.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the electric vehicle producer's stock. JPMorgan Chase & Co.'s price objective suggests a potential downside of 52.00% from the stock's current price.

Other analysts also recently issued research reports about the stock. New Street Research raised shares of Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price target for the company in a report on Monday, January 6th. Glj Research reiterated a "buy" rating on shares of Tesla in a research report on Tuesday. Benchmark assumed coverage on shares of Tesla in a research report on Wednesday, February 12th. They issued a "buy" rating and a $475.00 price target for the company. Truist Financial increased their price objective on shares of Tesla from $351.00 to $373.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company increased their price objective on shares of Tesla from $125.00 to $135.00 and gave the stock an "underweight" rating in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has an average rating of "Hold" and an average price target of $325.65.

Tesla Stock Performance

Shares of TSLA stock traded up $9.30 during midday trading on Wednesday, hitting $249.98. 99,883,305 shares of the company were exchanged, compared to its average volume of 88,788,172. The firm has a market capitalization of $804.06 billion, a P/E ratio of 122.54, a PEG ratio of 5.86 and a beta of 2.50. 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 firm's 50 day moving average price is $351.31 and its two-hundred day moving average price is $318.74. Tesla has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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%. As a group, equities research analysts anticipate that Tesla will post 2.56 earnings per share for the current year.

Insider Activity

In other news, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company's stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently made changes to their positions in TSLA. Swedbank AB increased its stake in shares of Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer's stock worth $287,457,000 after buying an additional 29,669 shares during the period. Principal Financial Group Inc. raised its holdings in 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 worth $955,052,000 after purchasing an additional 194,796 shares in the last quarter. United Bank bought a new position in Tesla in the 3rd quarter worth $287,000. Ashton Thomas Private Wealth LLC raised its holdings in Tesla by 9.3% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 4,980 shares of the electric vehicle producer's stock worth $1,303,000 after purchasing an additional 423 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in Tesla in the 3rd quarter worth $610,000. 66.20% of the stock is currently owned by institutional investors.

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.