Tesla (NASDAQ:TSLA) PT Lowered to $145.00

Tesla (NASDAQ:TSLA) had its target price lowered by research analysts at Evercore ISI from $155.00 to $145.00 in a report issued on Monday, Benzinga reports. The firm currently has an “in-line” rating on the electric vehicle producer’s stock. Evercore ISI’s price target would suggest a potential downside of 22.92% from the company’s previous close.

A number of other research firms have also recently issued reports on TSLA. Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Wednesday, April 24th. China Renaissance began coverage on Tesla in a research report on Monday, February 26th. They set a “hold” rating for the company. Citigroup lifted their target price on Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Finally, Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $245.00 to $195.00 in a research report on Tuesday, February 6th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $184.32.

Tesla Stock Performance

NASDAQ:TSLA traded up $19.83 during midday trading on Monday, hitting $188.12. The company’s stock had a trading volume of 71,089,796 shares, compared to its average volume of 102,877,070. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The firm’s 50 day moving average is $175.04 and its 200-day moving average is $207.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a market cap of $599.95 billion, a P/E ratio of 47.66, a P/E/G ratio of 4.45 and a beta of 2.40.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction 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 transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wyrmwood Management LLC acquired a new stake in Tesla during the fourth quarter valued at $25,000. Lam Group Inc. acquired a new stake in Tesla during the fourth quarter valued at $25,000. Mendota Financial Group LLC boosted its position in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Tesla during the fourth quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. boosted its position in Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.