Mizuho Lowers Tesla (NASDAQ:TSLA) Price Target to $375.00

Tesla (NASDAQ:TSLA - Free Report) had its target price cut by Mizuho from $390.00 to $375.00 in a research report report published on Tuesday,Benzinga reports. They currently have an outperform rating on the electric vehicle producer's stock.

Other equities research analysts have also recently issued research reports about the company. William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday. Oppenheimer reissued a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. JPMorgan Chase & Co. dropped their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Robert W. Baird reissued a "neutral" rating and issued a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $410.00 target price on shares of Tesla in a report on Friday, June 6th. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and an average target price of $300.19.

Tesla Stock Performance

NASDAQ TSLA traded up $3.64 on Tuesday, reaching $313.51. The stock had a trading volume of 78,861,329 shares, compared to its average volume of 99,821,915. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla has a 12-month low of $182.00 and a 12-month high of $488.54. The business's 50-day moving average price is $322.60 and its 200 day moving average price is $321.24. The stock has a market cap of $1.01 trillion, a P/E ratio of 172.26, a price-to-earnings-growth ratio of 9.22 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the prior year, the firm posted $0.45 EPS. As a group, equities analysts expect that Tesla will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock worth $279,420,485 in the last quarter. Corporate insiders own 20.70% of the company's stock.

Institutional Trading of Tesla

Large investors have recently made changes to their positions in the stock. True Wealth Design LLC boosted its stake in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Horrell Capital Management Inc. lifted its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the period. GS Investments Inc. lifted its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares during the period. Navigoe LLC purchased a new position in Tesla during the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust purchased a new position in Tesla during the fourth quarter worth about $38,000. Institutional investors and hedge funds 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.