Tesla (NASDAQ:TSLA) Price Target Cut to $350.00 by Analysts at Benchmark

Tesla (NASDAQ:TSLA - Free Report) had its target price cut by Benchmark from $475.00 to $350.00 in a research note released on Wednesday morning, MarketBeat reports. They currently have a buy rating on the electric vehicle producer's stock.

Other research analysts have also issued reports about the company. Truist Financial dropped their price objective on Tesla from $373.00 to $280.00 and set a "hold" rating for the company in a research note on Thursday, April 3rd. Morgan Stanley cut their price target on shares of Tesla from $430.00 to $410.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Bank of America reduced their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and raised their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Evercore ISI boosted their target price on Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a report on Friday, January 3rd. Eight equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tesla has an average rating of "Hold" and a consensus price target of $298.59.

Tesla Price Performance

Shares of Tesla stock traded down $0.44 during trading on Wednesday, hitting $251.96. 128,603,814 shares of the company's stock traded hands, compared to its average volume of 95,877,966. The company has a market cap of $810.42 billion, a PE ratio of 123.51, a PEG ratio of 5.86 and a beta of 2.58. The firm's fifty day moving average price is $285.19 and its 200 day moving average price is $323.09. Tesla has a twelve month low of $138.80 and a twelve month high of $488.54. 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 (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts forecast that Tesla will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares of the company's stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $41,745,581.15. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Hengehold Capital Management LLC raised its position in Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock worth $544,000 after acquiring an additional 24 shares in the last quarter. Strategic Investment Advisors MI increased its position in Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock worth $2,823,000 after buying an additional 24 shares during the last quarter. Acropolis Investment Management LLC raised its stake in Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer's stock valued at $1,136,000 after buying an additional 25 shares during the period. Mount Vernon Associates Inc. MD lifted its position in shares of Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer's stock valued at $2,950,000 after buying an additional 25 shares during the last quarter. Finally, Vista Finance LLC boosted its stake in shares of Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock worth $1,417,000 after acquiring an additional 25 shares during the period. 66.20% of the stock is 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.