UBS Group Cuts Tesla (NASDAQ:TSLA) Price Target to $165.00

Tesla (NASDAQ:TSLAFree Report) had its price objective decreased by UBS Group from $225.00 to $165.00 in a report published on Thursday, BayStreet.CA reports. UBS Group currently has a neutral rating on the electric vehicle producer’s stock.

A number of other brokerages have also weighed in on TSLA. Barclays decreased their target price on Tesla from $250.00 to $225.00 and set an equal weight rating on the stock in a research note on Thursday, January 25th. Canaccord Genuity Group decreased their target price on Tesla from $267.00 to $234.00 and set a buy rating on the stock in a research note on Thursday, January 25th. Citigroup decreased their target price on Tesla from $255.00 to $224.00 and set a neutral rating on the stock in a research note on Thursday, January 25th. Truist Financial reduced their price objective on Tesla from $227.00 to $193.00 and set a hold rating on the stock in a research report on Thursday, January 25th. Finally, Morgan Stanley reduced their price objective on Tesla from $345.00 to $320.00 and set an overweight rating on the stock in a research report on Wednesday, March 6th. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of Hold and a consensus target price of $213.04.

Check Out Our Latest Stock Analysis on TSLA

Tesla Price Performance

Tesla stock opened at $163.57 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The stock has a market cap of $520.94 billion, a P/E ratio of 37.95, a P/E/G ratio of 3.81 and a beta of 2.41. The company’s 50 day moving average price is $196.08 and its two-hundred day moving average price is $226.17. Tesla has a 52 week low of $152.37 and a 52 week high of $299.29.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 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 firm had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the company earned $1.07 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities analysts predict that Tesla will post 2.45 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were 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 directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s 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 completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,598 shares of company stock valued at $36,952,434. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSLA. MidWestOne Financial Group Inc. boosted its stake in shares of Tesla by 3.3% in the 1st quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock valued at $509,000 after purchasing an additional 15 shares during the last quarter. City State Bank raised its holdings in Tesla by 3.3% during the 3rd quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock worth $315,000 after buying an additional 40 shares during the period. Marcum Wealth LLC raised its holdings in Tesla by 0.6% during the 3rd quarter. Marcum Wealth LLC now owns 7,393 shares of the electric vehicle producer’s stock worth $1,850,000 after buying an additional 41 shares during the period. Linscomb & Williams Inc. raised its holdings in Tesla by 3.5% during the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock worth $1,329,000 after buying an additional 42 shares during the period. Finally, Investors Research Corp raised its holdings in Tesla by 5.5% during the 2nd quarter. Investors Research Corp now owns 801 shares of the electric vehicle producer’s stock worth $210,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors own 41.87% of the company’s stock.

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.

See Also

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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