Tesla (NASDAQ:TSLA) Downgraded by Deutsche Bank Aktiengesellschaft

Tesla (NASDAQ:TSLA) was downgraded by research analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report issued on Thursday, MarketBeat.com reports. They presently have a $123.00 price objective on the electric vehicle producer’s stock, down from their prior price objective of $189.00. Deutsche Bank Aktiengesellschaft’s price target points to a potential downside of 20.87% from the company’s current price.

Several other research firms have also recently issued reports on TSLA. Wedbush lowered their price objective on Tesla from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Truist Financial lowered their target price on Tesla from $193.00 to $176.00 and set a “hold” rating on the stock in a report on Wednesday, April 3rd. HSBC lowered their target price on Tesla from $143.00 to $138.00 and set a “reduce” rating on the stock in a report on Wednesday, April 3rd. Finally, Wells Fargo & Company lowered their target price on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a report on Friday, April 12th. Ten analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $194.70.

Tesla Trading Down 1.1 %

TSLA stock opened at $155.45 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. Tesla has a 12-month low of $152.37 and a 12-month high of $299.29. The stock has a market cap of $495.08 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 4.15 and a beta of 2.39. The business’s 50-day moving average is $180.24 and its 200 day moving average is $212.64.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts anticipate that Tesla will post 1.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on 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 owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 over the last 90 days. Corporate insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently modified their holdings of the company. MidWestOne Financial Group Inc. grew its stake in shares of Tesla by 3.3% during the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after purchasing an additional 15 shares in the last quarter. City State Bank grew its stake in shares of Tesla by 3.3% during the third quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock worth $315,000 after purchasing an additional 40 shares in the last quarter. Opal Wealth Advisors LLC grew its stake in shares of Tesla by 1.0% during the third quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock worth $1,089,000 after purchasing an additional 42 shares in the last quarter. Holderness Investments Co. grew its stake in shares of Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after purchasing an additional 42 shares in the last quarter. Finally, Linscomb & Williams Inc. grew its stake in shares of Tesla by 3.5% during the first quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock worth $1,329,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds 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.