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

Tesla (NASDAQ:TSLA - Get Free Report) had its target price cut by stock analysts at JPMorgan Chase & Co. from $135.00 to $120.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "underweight" rating on the electric vehicle producer's stock. JPMorgan Chase & Co.'s target price points to a potential downside of 51.54% from the company's current price.

A number of other brokerages have also recently weighed in on TSLA. Wedbush reissued an "outperform" rating and set a $550.00 price objective on shares of Tesla in a research report on Friday, March 7th. Phillip Securities cut Tesla from a "moderate sell" rating to a "strong sell" rating in a research report on Wednesday, November 13th. Glj Research reissued a "buy" rating on shares of Tesla in a report on Tuesday. UBS Group decreased their price target on Tesla from $259.00 to $225.00 and set a "sell" rating for the company in a report on Monday. Finally, Stifel Nicolaus dropped their price objective on shares of Tesla from $492.00 to $474.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Nine equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and an average price target of $325.81.

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Tesla Stock Up 7.4 %

TSLA stock traded up $17.03 during midday trading on Wednesday, hitting $247.61. The company's stock had a trading volume of 89,109,771 shares, compared to its average volume of 86,735,156. Tesla has a 52-week low of $138.80 and a 52-week high of $488.54. The firm has a 50-day simple moving average of $360.40 and a 200-day simple moving average of $319.53. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $796.43 billion, a P/E ratio of 122.09, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate 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 analysts forecast that Tesla will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 422,452 shares of company stock worth $153,659,530 over the last quarter. 20.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

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