Mizuho Has Lowered Expectations for Tesla (NASDAQ:TSLA) Stock Price

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

A number of other research analysts have also weighed in on the company. Piper Sandler restated an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. Guggenheim restated a "sell" rating and set a $175.00 price objective on shares of Tesla in a research report on Tuesday. Canaccord Genuity Group reiterated a "buy" rating and issued a $303.00 price target on shares of Tesla in a research report on Monday, June 30th. UBS Group set a $290.00 price target on Tesla in a research report on Monday, June 30th. Finally, William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla presently has an average rating of "Hold" and a consensus price target of $301.13.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $3.87 during midday trading on Tuesday, hitting $297.81. 102,672,162 shares of the stock traded hands, compared to its average volume of 101,052,941. Tesla has a one year low of $182.00 and a one year high of $488.54. The firm has a 50-day moving average of $321.10 and a two-hundred day moving average of $323.46. The firm has a market capitalization of $959.23 billion, a P/E ratio of 163.63, a PEG ratio of 9.17 and a beta of 2.39. 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 (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the prior year, the business earned $0.45 earnings per share. On average, equities analysts forecast that Tesla will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the sale, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. This trade represents a 75.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director owned 85,000 shares in the company, valued at approximately $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 829,509 shares of company stock worth $277,648,925 over the last three months. 20.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TSLA. Norges Bank acquired a new position in shares of Tesla in the fourth quarter valued at approximately $14,420,248,000. Goldman Sachs Group Inc. increased its position in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new position in shares of Tesla in the first quarter valued at $3,247,619,000. FMR LLC boosted its stake in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.