UBS Group Trims Tesla (NASDAQ:TSLA) Target Price to $147.00

Tesla (NASDAQ:TSLA) had its target price decreased by UBS Group from $160.00 to $147.00 in a research report report published on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other research reports. Canaccord Genuity Group lowered their price objective on shares of Tesla from $234.00 to $222.00 and set a buy rating on the stock in a research note on Wednesday. Canaccord Genuity Group decreased their price objective on shares of Tesla from $267.00 to $234.00 and set a buy rating for the company in a research note on Thursday, January 25th. Mizuho decreased their price objective on shares of Tesla from $195.00 to $180.00 and set a neutral rating for the company in a research note on Wednesday. Guggenheim reaffirmed a sell rating and issued a $122.00 price objective on shares of Tesla in a research note on Tuesday. Finally, Royal Bank of Canada decreased their price objective on shares of Tesla from $294.00 to $293.00 and set an outperform rating for the company in a research note on Wednesday. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of Hold and an average price target of $186.70.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $168.29 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $175.04 and its two-hundred day moving average price is $208.00. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29. The stock has a market capitalization of $535.97 billion, a P/E ratio of 42.93, a P/E/G ratio of 4.28 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same quarter in the previous year, the business posted $1.07 EPS. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Tesla will post 1.97 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on 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 completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction 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. In the last 90 days, insiders sold 209,098 shares of company stock valued at $38,802,534. Insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Several institutional investors have recently made changes to their positions in the business. Pinnacle Associates Ltd. boosted its position in shares of Tesla by 4.8% during the 1st quarter. Pinnacle Associates Ltd. now owns 64,063 shares of the electric vehicle producer’s stock valued at $11,262,000 after acquiring an additional 2,927 shares in the last quarter. Sterling Investment Counsel LLC lifted its position in shares of Tesla by 86.1% during the first quarter. Sterling Investment Counsel LLC now owns 4,608 shares of the electric vehicle producer’s stock worth $810,000 after purchasing an additional 2,132 shares in the last quarter. BLB&B Advisors LLC lifted its position in shares of Tesla by 54.2% during the first quarter. BLB&B Advisors LLC now owns 5,141 shares of the electric vehicle producer’s stock worth $904,000 after purchasing an additional 1,808 shares in the last quarter. MBA Advisors LLC acquired a new position in shares of Tesla during the first quarter worth approximately $336,000. Finally, Prestige Wealth Management Group LLC lifted its position in shares of Tesla by 14.5% during the first quarter. Prestige Wealth Management Group LLC now owns 8,238 shares of the electric vehicle producer’s stock worth $1,448,000 after purchasing an additional 1,046 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.