Tesla (NASDAQ:TSLA) Price Target Cut to $120.00 by Analysts at HSBC

Tesla (NASDAQ:TSLA) had its price target decreased by HSBC from $138.00 to $120.00 in a report issued on Wednesday, Benzinga reports. HSBC currently has a reduce rating on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other reports. Robert W. Baird reissued an outperform rating and set a $280.00 price objective on shares of Tesla in a report on Wednesday, April 17th. The Goldman Sachs Group lowered their price target on shares of Tesla from $190.00 to $175.00 and set a neutral rating on the stock in a report on Tuesday, April 9th. KGI Securities reaffirmed a neutral rating and issued a $213.00 price target (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Jefferies Financial Group lowered their price target on shares of Tesla from $185.00 to $165.00 and set a hold rating on the stock in a report on Wednesday, April 10th. Finally, Oppenheimer reissued a market perform rating on shares of Tesla in a research note on Wednesday. Eight equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $186.70.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $168.29 on Wednesday. The firm has a 50 day moving average of $175.04 and a 200 day moving average of $208.00. The company has a market capitalization of $535.97 billion, a price-to-earnings ratio of 42.93, a price-to-earnings-growth ratio of 4.28 and a beta of 2.39. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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 return on equity of 13.18% and a net margin of 14.37%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share. On average, sell-side analysts predict that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction 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 $6,376,229.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Tesla in the fourth quarter worth $7,844,757,000. International Assets Investment Management LLC lifted its stake in shares of Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Tesla by 34.0% in the third quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after buying an additional 2,293,344 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after buying an additional 2,177,397 shares during the last quarter. 66.20% of the stock is 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.