Tesla (NASDAQ:TSLA) Given New $120.00 Price Target at Sanford C. Bernstein

Tesla (NASDAQ:TSLA) had its target price cut by Sanford C. Bernstein from $150.00 to $120.00 in a report published on Tuesday morning, Benzinga reports. They currently have an underperform rating on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other reports. KGI Securities reaffirmed a neutral rating and issued a $213.00 price objective (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. China Renaissance started coverage on Tesla in a report on Monday, February 26th. They issued a hold rating on the stock. The Goldman Sachs Group decreased their price objective on Tesla from $220.00 to $190.00 and set a neutral rating on the stock in a report on Monday, March 18th. Wells Fargo & Company lowered Tesla from an equal weight rating to an underweight rating and decreased their price objective for the company from $200.00 to $125.00 in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. decreased their price objective on Tesla from $135.00 to $130.00 and set an underweight rating on the stock in a report on Friday, January 26th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $204.63.

Tesla Stock Down 2.2 %

TSLA stock opened at $175.79 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $559.85 billion, a PE ratio of 40.79, a PEG ratio of 4.01 and a beta of 2.41. Tesla has a 1-year low of $152.37 and a 1-year high of $299.29. The business’s 50 day simple moving average is $187.78 and its 200 day simple moving average is $222.06.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.07 earnings per share. As a group, research analysts anticipate that Tesla will post 2.44 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,598 shares of company stock worth $36,952,434. Corporate insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds have recently bought and sold shares of TSLA. Contravisory Investment Management Inc. bought a new stake in Tesla during the third quarter valued at $25,000. Wyrmwood Management LLC bought a new stake in Tesla during the fourth quarter worth about $25,000. Lam Group Inc. bought a new stake in Tesla during the fourth quarter worth about $25,000. Alpha Paradigm Partners LLC bought a new stake in Tesla during the third quarter worth about $27,000. Finally, Halpern Financial Inc. lifted its stake in Tesla by 1,111.1% during the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is currently 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.