Analysts Set Tesla, Inc. (NASDAQ:TSLA) Price Target at $198.81

Tesla, Inc. (NASDAQ:TSLA) has been assigned an average recommendation of “Reduce” from the thirty-two ratings firms that are currently covering the firm, MarketBeat reports. Nine analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $197.15.

A number of brokerages have weighed in on TSLA. China Renaissance began coverage on Tesla in a report on Monday, February 26th. They issued a “hold” rating on the stock. Truist Financial reduced their price target on Tesla from $193.00 to $176.00 and set a “hold” rating on the stock in a report on Wednesday, April 3rd. TD Cowen reduced their price target on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. JPMorgan Chase & Co. reduced their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 3rd. Finally, Redburn Atlantic assumed coverage on Tesla in a report on Wednesday, January 24th. They set a “sell” rating and a $170.00 price target on the stock.

Tesla Trading Down 1.1 %

Shares of NASDAQ:TSLA opened at $155.45 on Friday. Tesla has a 1 year low of $152.37 and a 1 year high of $299.29. The firm has a market capitalization of $495.08 billion, a price-to-earnings ratio of 36.07, a price-to-earnings-growth ratio of 4.25 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The business’s 50 day moving average price is $180.24 and its 200-day moving average price is $212.64.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) 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 business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter last year, the business earned $1.07 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities research analysts forecast that Tesla will post 1.98 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 in the last ninety days. 20.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Contravisory Investment Management Inc. acquired a new stake in shares of Tesla during the third quarter worth $25,000. Wyrmwood Management LLC acquired a new stake in shares of Tesla during the fourth quarter worth $25,000. Lam Group Inc. acquired a new stake in shares of Tesla during the fourth quarter worth $25,000. Alpha Paradigm Partners LLC acquired a new stake in shares of Tesla during the third quarter worth $27,000. Finally, Halpern Financial Inc. raised its holdings in shares of 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 period. Institutional investors and hedge funds own 66.20% of the company’s stock.

About Tesla

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.