Roth Mkm Has Lowered Expectations for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA - Free Report) had its target price lowered by Roth Mkm from $450.00 to $395.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the electric vehicle producer's stock.

Several other equities analysts have also commented on the stock. Raymond James lowered shares of Tesla to an "outperform" rating in a report on Tuesday. Bank of America lowered their price objective on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a report on Tuesday. Wells Fargo & Company lowered their price target on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $287.46.

Tesla Price Performance

Shares of TSLA stock traded up $19.49 during trading on Wednesday, hitting $279.00. The company had a trading volume of 63,694,126 shares, compared to its average volume of 95,748,595. The firm has a market capitalization of $897.41 billion, a P/E ratio of 136.98, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla has a one year low of $158.36 and a one year high of $488.54. 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 stock's 50-day moving average price is $265.36 and its 200 day moving average price is $322.18.

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

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $41,745,581.15. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock worth $123,791,123 in the last quarter. Company insiders own 20.70% of the company's stock.

Institutional Investors Weigh In On Tesla

Hedge funds have recently added to or reduced their stakes in the company. Destination Wealth Management increased its stake in Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock valued at $3,296,000 after purchasing an additional 1,359 shares in the last quarter. Stephens Consulting LLC increased its position in shares of Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock worth $644,000 after acquiring an additional 891 shares in the last quarter. Worth Asset Management LLC increased its position in shares of Tesla by 383.1% during the fourth quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer's stock worth $3,358,000 after acquiring an additional 6,593 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. raised its holdings in shares of Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after acquiring an additional 1,629 shares during the last quarter. Finally, Ameritas Advisory Services LLC lifted its position in Tesla by 104.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer's stock valued at $23,242,000 after acquiring an additional 29,458 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.