HSBC Trims Tesla (NASDAQ:TSLA) Target Price to $138.00

Tesla (NASDAQ:TSLAGet Free Report) had its target price lowered by analysts at HSBC from $143.00 to $138.00 in a research report issued on Wednesday, Briefing.com reports. The firm currently has a “reduce” rating on the electric vehicle producer’s stock. HSBC’s price target would suggest a potential downside of 17.18% from the company’s current price.

A number of other research firms have also recently commented on TSLA. KGI Securities reissued a “neutral” rating and issued a $213.00 target price (down previously from $309.00) on shares of Tesla in a report on Thursday, January 25th. Piper Sandler dropped their target price on shares of Tesla from $295.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $298.00 target price on shares of Tesla in a report on Wednesday, March 27th. UBS Group lowered their price objective on Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Finally, Robert W. Baird lowered their price objective on Tesla from $300.00 to $280.00 and set an “outperform” rating for the company in a research note on Tuesday. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $202.41.

View Our Latest Stock Analysis on TSLA

Tesla Trading Down 4.9 %

TSLA opened at $166.63 on Wednesday. Tesla has a twelve month low of $152.37 and a twelve month high of $299.29. The company has a 50-day simple moving average of $185.65 and a 200 day simple moving average of $219.67. 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 capitalization of $530.68 billion, a price-to-earnings ratio of 38.66, a P/E/G ratio of 4.06 and a beta of 2.39.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 EPS. Analysts predict that Tesla will post 2.38 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold 198,598 shares of company stock worth $36,952,434 in the last ninety days. Company insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TSLA. Norges Bank purchased a new position in Tesla during the 4th quarter valued at about $7,844,757,000. Moneta Group Investment Advisors LLC boosted its position in shares of Tesla by 180,125.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after acquiring an additional 26,836,879 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Tesla by 203.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after buying an additional 13,558,882 shares during the last quarter. International Assets Investment Management LLC lifted its position in Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the last quarter. Finally, Morgan Stanley lifted its position in Tesla by 26.3% in the fourth quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock valued at $3,132,119,000 after purchasing an additional 5,292,464 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

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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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