Wedbush Cuts Tesla (NASDAQ:TSLA) Price Target to $315.00

Tesla (NASDAQ:TSLA - Free Report) had its price target cut by Wedbush from $550.00 to $315.00 in a report released on Monday, MarketBeat reports. They currently have an outperform rating on the electric vehicle producer's stock.

TSLA has been the subject of a number of other research reports. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Monday, February 10th. Guggenheim reduced their price objective on shares of Tesla from $175.00 to $170.00 and set a "sell" rating on the stock in a research note on Wednesday, March 12th. HSBC lowered their target price on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research note on Thursday, March 27th. JPMorgan Chase & Co. reduced their price target on Tesla from $135.00 to $120.00 and set an "underweight" rating on the stock in a research note on Wednesday, March 12th. Finally, Barclays lifted their price objective on Tesla from $270.00 to $325.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 15th. Eight equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of "Hold" and an average price target of $298.59.

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Tesla Stock Performance

NASDAQ TSLA traded down $4.54 on Monday, hitting $247.86. 86,480,283 shares of the company's stock were exchanged, compared to its average volume of 95,727,679. The firm's 50-day moving average price is $287.99 and its two-hundred day moving average price is $323.12. The firm has a market cap of $797.24 billion, a price-to-earnings ratio of 120.59, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results 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%. On average, research analysts expect that Tesla will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were 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 owns 108,965 shares of the company's stock, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated 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 transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock valued at $123,791,123 in the last three months. Corporate insiders own 20.70% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after buying an additional 1,655,203 shares during the period. Norges Bank bought a new stake in shares of Tesla during the 4th quarter valued at about $14,420,248,000. FMR LLC raised its stake in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. Finally, Northern Trust Corp lifted its holdings in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Institutional investors 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.