Tesla (NASDAQ:TSLA) Given New $300.00 Price Target at Wedbush

Tesla (NASDAQ:TSLA) had its price objective reduced by stock analysts at Wedbush from $315.00 to $300.00 in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage currently has an “outperform” rating on the electric vehicle producer’s stock. Wedbush’s price target would suggest a potential upside of 66.82% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Tesla from $220.00 to $190.00 and set a “neutral” rating for the company in a report on Monday, March 18th. China Renaissance began coverage on shares of Tesla in a report on Monday, February 26th. They set a “hold” rating on the stock. JPMorgan Chase & Co. cut their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, January 26th. Barclays lowered their price objective on shares of Tesla from $250.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 25th. Finally, Jefferies Financial Group lowered their price objective on shares of Tesla from $225.00 to $185.00 and set a “hold” rating on the stock in a research report on Monday, January 29th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $204.63.

Tesla Trading Up 1.2 %

NASDAQ:TSLA opened at $179.83 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $572.72 billion, a price-to-earnings ratio of 41.72, a PEG ratio of 4.01 and a beta of 2.41. The firm has a fifty day simple moving average of $188.49 and a two-hundred day simple moving average of $222.36. Tesla has a 12 month low of $152.37 and a 12 month high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion for 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 firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 earnings per share. Analysts expect that Tesla will post 2.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were 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 in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders sold a total of 198,598 shares of company stock worth $36,952,434 in the last three months. 20.90% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

Institutional investors have recently bought and sold shares of the company. Contravisory Investment Management Inc. purchased a new stake in Tesla during the 3rd quarter valued at about $25,000. Wyrmwood Management LLC purchased a new stake in shares of Tesla during the 4th quarter valued at about $25,000. Lam Group Inc. purchased a new stake in shares of Tesla during the 4th quarter valued at about $25,000. Halpern Financial Inc. boosted its holdings in shares of Tesla by 1,111.1% during the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Finally, Alpha Paradigm Partners LLC purchased a new stake in shares of Tesla during the 3rd quarter valued at about $27,000. 66.20% of the stock is owned by hedge funds and other 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.