Tesla (NASDAQ:TSLA) Price Target Cut to $145.00

Tesla (NASDAQ:TSLA - Get Free Report) had its price target cut by analysts at Evercore ISI from $155.00 to $145.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an "in-line" rating on the electric vehicle producer's stock. Evercore ISI's target price would indicate a potential downside of 25.28% from the stock's current price.

Several other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Tesla from $130.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 3rd. Royal Bank of Canada decreased their price target on shares of Tesla from $294.00 to $293.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 24th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Wednesday, April 24th. Guggenheim reiterated a "sell" rating and set a $122.00 price target on shares of Tesla in a research note on Tuesday, April 23rd. Finally, TD Cowen decreased their price target on shares of Tesla from $200.00 to $180.00 and set a "market perform" rating on the stock in a research note on Thursday, January 25th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $184.32.

Tesla Stock Performance

Shares of Tesla stock traded up $25.76 during midday trading on Monday, hitting $194.05. The company had a trading volume of 243,386,278 shares, compared to its average volume of 105,090,164. The business's 50 day simple moving average is $175.04 and its two-hundred day simple moving average is $207.22. The stock has a market cap of $618.86 billion, a PE ratio of 48.47, a P/E/G ratio of 4.45 and a beta of 2.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business's stock in a transaction dated 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 transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 687 shares of the business's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now 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 sold a total of 209,098 shares of company stock worth $38,802,534 over the last three months. 20.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently modified their holdings of the stock. Holderness Investments Co. grew its position in shares of Tesla by 1.6% during the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer's stock worth $650,000 after buying an additional 42 shares during the period. SCS Capital Management LLC grew its position in shares of Tesla by 0.3% in the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer's stock valued at $4,224,000 after purchasing an additional 45 shares during the period. Daymark Wealth Partners LLC grew its position in shares of Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer's stock valued at $2,622,000 after purchasing an additional 45 shares during the period. ML & R Wealth Management LLC grew its position in shares of Tesla by 2.6% in the 3rd quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer's stock valued at $455,000 after purchasing an additional 46 shares during the period. Finally, LCM Capital Management Inc grew its position in shares of Tesla by 3.5% in the 3rd quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer's stock valued at $344,000 after purchasing an additional 46 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.