Robert W. Baird Has Lowered Expectations for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA - Free Report) had its price target trimmed by Robert W. Baird from $370.00 to $320.00 in a report released on Wednesday,Benzinga reports. The firm currently has an outperform rating on the electric vehicle producer's stock.

TSLA has been the topic of a number of other reports. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Wednesday. Canaccord Genuity Group dropped their price target on Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research report on Wednesday. Guggenheim decreased their price objective on Tesla from $175.00 to $170.00 and set a "sell" rating for the company in a research report on Wednesday, March 12th. Raymond James lowered Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Finally, Benchmark decreased their price target on Tesla from $475.00 to $350.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $287.46.

Tesla Stock Performance

Shares of TSLA traded up $25.44 during midday trading on Wednesday, reaching $284.95. 166,882,151 shares of the stock were exchanged, compared to its average volume of 95,960,657. The company has a market capitalization of $916.55 billion, a price-to-earnings ratio of 139.68, a PEG ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla has a twelve month low of $167.41 and a twelve month high of $488.54. The business's 50-day moving average price is $263.98 and its 200 day moving average price is $323.02.

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). The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the prior year, the firm posted $0.45 EPS. On average, sell-side analysts expect that Tesla will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, Director James R. Murdoch sold 54,776 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock worth $123,791,123 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Cherry Tree Wealth Management LLC boosted its stake in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank boosted its position in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC grew its holdings in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the period. True Wealth Design LLC increased its position in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Finally, Horrell Capital Management Inc. raised its stake 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 purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

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.