Mizuho Cuts Tesla (NASDAQ:TSLA) Price Target to $375.00

Tesla (NASDAQ:TSLA - Free Report) had its price target reduced by Mizuho from $430.00 to $375.00 in a research report released on Thursday,Benzinga reports. They currently have an outperform rating on the electric vehicle producer's stock.

Other research analysts have also recently issued research reports about the company. Morgan Stanley reduced their price objective on Tesla from $430.00 to $410.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. StockNews.com downgraded Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Oppenheimer reissued a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Wedbush reduced their price objective on shares of Tesla from $550.00 to $315.00 and set an "outperform" rating for the company in a report on Monday, April 7th. Finally, UBS Group decreased their price target on Tesla from $259.00 to $225.00 and set a "sell" rating for the company in a research note on Monday, March 10th. Eight analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of "Hold" and a consensus price target of $298.59.

Tesla Price Performance

Shares of NASDAQ:TSLA traded down $5.02 during trading on Thursday, hitting $247.29. 64,471,368 shares of the stock were exchanged, compared to its average volume of 95,887,772. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market cap of $795.41 billion, a PE ratio of 121.22, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a fifty day moving average price of $285.19 and a two-hundred day moving average price of $323.57. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, analysts forecast that Tesla will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated 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 owns 85,000 shares of the company's stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at $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. In the last ninety days, insiders have sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 25 LLC acquired a new position in Tesla in the 1st quarter valued at about $590,000. Abacus Planning Group Inc. grew its position in shares of Tesla by 15.0% in the first quarter. Abacus Planning Group Inc. now owns 1,987 shares of the electric vehicle producer's stock valued at $515,000 after purchasing an additional 259 shares during the last quarter. Capital Investment Advisors LLC increased its stake in shares of Tesla by 10.7% during the first quarter. Capital Investment Advisors LLC now owns 23,961 shares of the electric vehicle producer's stock worth $6,210,000 after purchasing an additional 2,307 shares during the period. PFW Advisors LLC lifted its holdings in Tesla by 34.6% during the 1st quarter. PFW Advisors LLC now owns 2,763 shares of the electric vehicle producer's stock worth $716,000 after purchasing an additional 711 shares during the last quarter. Finally, Bangor Savings Bank boosted its stake in Tesla by 14.8% in the 1st quarter. Bangor Savings Bank now owns 930 shares of the electric vehicle producer's stock valued at $241,000 after purchasing an additional 120 shares during the period. 66.20% of the stock is 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.