Tesla (NASDAQ:TSLA) Price Target Lowered to $375.00 at Mizuho

Tesla (NASDAQ:TSLA) had its price objective lowered by equities research analysts at Mizuho from $430.00 to $375.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the electric vehicle producer’s stock. Mizuho’s price objective would indicate a potential upside of 48.83% from the stock’s current price.

Several other equities analysts also recently weighed in on TSLA. Royal Bank of Canada reduced their target price on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Cantor Fitzgerald restated an “overweight” rating and set a $425.00 target price on shares of Tesla in a research report on Thursday, April 3rd. Morgan Stanley cut their price target on Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Robert W. Baird dropped their price objective on Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Monday, February 10th. Eight investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $298.59.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $251.96 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $285.19 and a two-hundred day simple moving average of $323.09. Tesla has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a market cap of $810.42 billion, a price-to-earnings ratio of 123.51, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

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

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $41,745,581.15. This trade represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 374,228 shares of company stock worth $123,791,123 in the last ninety days. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its position in Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of Tesla by 4.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 11,046 shares of the electric vehicle producer’s stock valued at $2,890,000 after purchasing an additional 475 shares in the last quarter. M&T Bank Corp increased its position in shares of Tesla by 13.3% during the third quarter. M&T Bank Corp now owns 341,442 shares of the electric vehicle producer’s stock valued at $89,332,000 after buying an additional 39,961 shares during the period. McIlrath & Eck LLC raised its stake in Tesla by 6.0% in the third quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer’s stock worth $890,000 after buying an additional 192 shares in the last quarter. Finally, Advisory Resource Group lifted its holdings in Tesla by 1.2% in the third quarter. Advisory Resource Group now owns 4,260 shares of the electric vehicle producer’s stock worth $1,115,000 after buying an additional 50 shares during the period. 66.20% of the stock is currently owned by institutional investors.

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.