Tesla (NASDAQ:TSLA) Hits New 1-Year Low After Analyst Downgrade

Tesla, Inc. (NASDAQ:TSLA) reached a new 52-week low on Thursday after Deutsche Bank Aktiengesellschaft downgraded the stock from a buy rating to a hold rating. Deutsche Bank Aktiengesellschaft now has a $123.00 price target on the stock, down from their previous price target of $189.00. Tesla traded as low as $148.70 and last traded at $149.85, with a volume of 21207353 shares. The stock had previously closed at $155.45.

Several other analysts have also issued reports on TSLA. JPMorgan Chase & Co. dropped their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. UBS Group reduced their price target on Tesla from $225.00 to $165.00 and set a “neutral” rating on the stock in a report on Thursday, March 14th. TD Cowen decreased their price objective on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. Truist Financial lowered their target price on shares of Tesla from $193.00 to $176.00 and set a “hold” rating for the company in a research note on Wednesday, April 3rd. Finally, The Goldman Sachs Group dropped their target price on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. Ten research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $194.70.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, 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 sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares in the last quarter. State Street Corp raised its holdings in shares of Tesla by 0.7% during the first quarter. State Street Corp now owns 99,683,820 shares of the electric vehicle producer’s stock valued at $20,680,162,000 after acquiring an additional 685,454 shares during the period. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter valued at approximately $7,844,757,000. Morgan Stanley raised its stake in Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. Finally, FMR LLC lifted its holdings in shares of Tesla by 0.9% in the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after purchasing an additional 269,182 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 3.2 %

The company has a 50-day moving average price of $180.24 and a 200 day moving average price of $212.64. The firm has a market cap of $479.02 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 4.15 and a beta of 2.39. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last released 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 company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same quarter in the prior year, the company earned $1.07 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. As a group, research analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

About Tesla

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.