Tesla (NASDAQ:TSLA) PT Lowered to $120.00 at Wells Fargo & Company

Tesla (NASDAQ:TSLAFree Report) had its price objective reduced by Wells Fargo & Company from $125.00 to $120.00 in a research note released on Friday morning, Marketbeat Ratings reports. Wells Fargo & Company currently has an underweight rating on the electric vehicle producer’s stock.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Tesla from $200.00 to $189.00 and set a buy rating for the company in a research note on Wednesday, April 3rd. Canaccord Genuity Group reduced their price target on shares of Tesla from $267.00 to $234.00 and set a buy rating for the company in a research report on Thursday, January 25th. China Renaissance began coverage on shares of Tesla in a research note on Monday, February 26th. They issued a hold rating on the stock. Redburn Atlantic began coverage on shares of Tesla in a research note on Wednesday, January 24th. They issued a sell rating and a $170.00 price objective on the stock. Finally, Guggenheim boosted their price objective on shares of Tesla from $125.00 to $132.00 and gave the company a sell rating in a research note on Friday, December 15th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $198.81.

Read Our Latest Report on Tesla

Tesla Price Performance

Shares of TSLA opened at $171.05 on Friday. 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 stock has a market cap of $544.76 billion, a PE ratio of 39.69, a P/E/G ratio of 4.49 and a beta of 2.39. The firm has a 50-day simple moving average of $181.83 and a two-hundred day simple moving average of $214.69. Tesla has a 1-year low of $152.37 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings data 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). The business had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. As a group, analysts forecast that Tesla will post 2.02 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was 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 approximately $2,920,950. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 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 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. In the last quarter, insiders have sold 209,098 shares of company stock worth $38,802,534. Company insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Large investors have recently made changes to their positions in the company. Contravisory Investment Management Inc. bought a new stake in Tesla during the third quarter worth approximately $25,000. Wyrmwood Management LLC bought a new stake in Tesla during the fourth quarter worth approximately $25,000. Lam Group Inc. bought a new stake in Tesla during the fourth quarter worth approximately $25,000. Alpha Paradigm Partners LLC bought a new stake in Tesla during the third quarter worth approximately $27,000. Finally, Halpern Financial Inc. boosted its position in 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 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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