Tesla (NASDAQ:TSLA) Given New $345.00 Price Target at Deutsche Bank Aktiengesellschaft

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

Several other equities research analysts have also weighed in on TSLA. New Street Research raised Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price objective for the company in a report on Monday, January 6th. Piper Sandler reduced their target price on shares of Tesla from $500.00 to $450.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. Morgan Stanley dropped their price target on shares of Tesla from $430.00 to $410.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Cantor Fitzgerald upgraded shares of Tesla from a "neutral" rating to an "overweight" rating and set a $425.00 price objective for the company in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada lowered their target price 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. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus price target of $317.75.

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Tesla Stock Performance

TSLA stock traded down $9.58 during mid-day trading on Friday, hitting $253.97. The company had a trading volume of 83,480,779 shares, compared to its average volume of 93,195,572. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54. The stock's fifty day moving average price is $321.33 and its two-hundred day moving average price is $323.01. The firm has a market cap of $816.89 billion, a PE ratio of 125.14, a price-to-earnings-growth 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.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. On average, analysts forecast that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the firm'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 completion of the transaction, the chief financial officer now owns 108,965 shares of the company's stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 over the last three months. Corporate insiders own 20.70% of the company's stock.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSLA. True Wealth Design LLC increased its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. increased its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. raised its holdings in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC acquired a new position in Tesla during the fourth quarter valued at $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in Tesla in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 66.20% of the company's stock.

About Tesla

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.