Tesla (NASDAQ:TSLA) Price Target Lowered to $189.00 at Deutsche Bank Aktiengesellschaft

Tesla (NASDAQ:TSLAGet Free Report) had its price objective lowered by investment analysts at Deutsche Bank Aktiengesellschaft from $200.00 to $189.00 in a report issued on Wednesday, StockNewsAPI reports. The firm presently has a “buy” rating on the electric vehicle producer’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 13.91% from the stock’s current price.

Several other brokerages have also commented on TSLA. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $298.00 price objective on shares of Tesla in a research report on Wednesday, March 27th. Sanford C. Bernstein lowered their price objective on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 26th. Daiwa Capital Markets lowered shares of Tesla from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $245.00 to $195.00 in a research report on Tuesday, February 6th. TD Cowen reduced their target price on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Finally, Wedbush reduced their target price on shares of Tesla from $315.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, March 28th. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $202.00.

Check Out Our Latest Analysis on Tesla

Tesla Stock Down 0.4 %

Shares of TSLA traded down $0.71 during trading hours on Wednesday, reaching $165.92. 20,357,349 shares of the stock traded hands, compared to its average volume of 101,186,625. 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 stock has a fifty day simple moving average of $185.65 and a 200 day simple moving average of $219.67. Tesla has a 52 week low of $152.37 and a 52 week high of $299.29. The company has a market cap of $528.42 billion, a price-to-earnings ratio of 38.17, a PEG ratio of 4.06 and a beta of 2.39.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly 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). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities analysts forecast that Tesla will post 2.38 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,598 shares of company stock worth $36,952,434. 25.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. MidWestOne Financial Group Inc. increased its position in shares of Tesla by 3.3% during the 1st quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after purchasing an additional 15 shares during the last quarter. City State Bank boosted its stake in shares of Tesla by 3.3% in the 3rd quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock valued at $315,000 after buying an additional 40 shares during the period. Marcum Wealth LLC boosted its stake in shares of Tesla by 0.6% in the 3rd quarter. Marcum Wealth LLC now owns 7,393 shares of the electric vehicle producer’s stock valued at $1,850,000 after buying an additional 41 shares during the period. Opal Wealth Advisors LLC boosted its stake in shares of Tesla by 1.0% in the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock valued at $1,089,000 after buying an additional 42 shares during the period. Finally, Holderness Investments Co. lifted its stake in Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after purchasing an additional 42 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Company Profile

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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.

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