Tesla (NASDAQ:TSLA) Price Target Lowered to $320.00 at Royal Bank of Canada

Tesla (NASDAQ:TSLA) had its price target reduced by equities researchers at Royal Bank of Canada from $440.00 to $320.00 in a report released on Tuesday, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the electric vehicle producer’s stock. Royal Bank of Canada’s price target suggests a potential upside of 35.67% from the stock’s previous close.

TSLA has been the subject of several other reports. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a report on Monday, January 6th. Cantor Fitzgerald reissued a “neutral” rating and issued a $365.00 price objective on shares of Tesla in a report on Wednesday, January 29th. Evercore ISI lifted their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. UBS Group decreased their target price on Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a research note on Monday, March 10th. Finally, Wells Fargo & Company decreased their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $321.12.

Tesla Stock Up 4.7 %

Shares of NASDAQ TSLA opened at $235.86 on Tuesday. Tesla has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a market cap of $758.65 billion, a price-to-earnings ratio of 115.62, a PEG ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock’s 50-day simple moving average is $341.28 and its 200-day simple moving average is $320.02.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts anticipate that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock valued at $166,849,043 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. True Wealth Design LLC raised its stake in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. raised its stake in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. raised its stake in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC acquired a new stake in Tesla during the 4th quarter valued at $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla during the 4th quarter valued at $38,000. Institutional investors own 66.20% of the company’s stock.

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.