Tesla (NASDAQ:TSLA) Given New $280.00 Price Target at Robert W. Baird

Tesla (NASDAQ:TSLA - Free Report) had its price objective reduced by Robert W. Baird from $300.00 to $280.00 in a research note published on Tuesday, Benzinga reports. They currently have an outperform rating on the electric vehicle producer's stock.

A number of other research analysts have also commented on the stock. Barclays reduced their price target on shares of Tesla from $250.00 to $225.00 and set an equal weight rating for the company in a research report on Thursday, January 25th. China Renaissance assumed coverage on shares of Tesla in a report on Monday, February 26th. They set a hold rating for the company. Daiwa Capital Markets downgraded shares of Tesla from an outperform rating to a neutral rating and dropped their price objective for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. Piper Sandler dropped their price objective on shares of Tesla from $295.00 to $225.00 and set an overweight rating for the company in a report on Monday, February 5th. Finally, Mizuho reaffirmed a neutral rating and set a $195.00 price objective (down from $270.00) on shares of Tesla in a report on Monday, March 25th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $203.89.

Tesla Stock Performance

Tesla stock traded down $8.59 during mid-day trading on Tuesday, reaching $166.63. The company's stock had a trading volume of 116,441,580 shares, compared to its average volume of 102,568,922. Tesla has a 12-month low of $152.37 and a 12-month high of $299.29. The company has a market capitalization of $530.68 billion, a P/E ratio of 38.66, a PEG ratio of 3.97 and a beta of 2.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The firm's fifty day moving average price is $185.65 and its two-hundred day moving average price is $219.67.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to analysts' expectations of $25.64 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. The firm's quarterly revenue was up 3.5% on a year-over-year basis. Sell-side analysts predict that Tesla will post 2.44 EPS for the current fiscal year.

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 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 owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares of the company's stock, valued at $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold a total of 198,598 shares of company stock worth $36,952,434 over the last quarter. Company insiders own 20.90% of the company's stock.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Contravisory Investment Management Inc. purchased a new position in Tesla during the third quarter valued at $25,000. Wyrmwood Management LLC bought a new position in Tesla during the fourth quarter valued at $25,000. Lam Group Inc. bought a new position in Tesla during the fourth quarter valued at $25,000. Alpha Paradigm Partners LLC bought a new stake in shares of Tesla in the 3rd quarter worth about $27,000. Finally, Halpern Financial Inc. lifted its holdings in Tesla by 1,111.1% during the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 100 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.