The Goldman Sachs Group Has Lowered Expectations for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA - Get Free Report) had its price objective dropped by investment analysts at The Goldman Sachs Group from $295.00 to $285.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the electric vehicle producer's stock. The Goldman Sachs Group's price target indicates a potential downside of 3.44% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley restated an "overweight" rating on shares of Tesla in a report on Friday. Truist Financial set a $280.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Raymond James downgraded shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Canaccord Genuity Group reduced their price objective on Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and lifted their target price for the company from $180.00 to $388.00 in a report on Friday, March 7th. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus target price of $294.27.

Tesla Trading Up 3.7%

Shares of TSLA traded up $10.44 during midday trading on Friday, hitting $295.14. 163,425,518 shares of the stock were exchanged, compared to its average volume of 99,671,998. Tesla has a 52-week low of $167.41 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a fifty day simple moving average of $291.63 and a 200 day simple moving average of $333.97. The firm has a market cap of $950.63 billion, a P/E ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its 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 firm had revenue of $19.34 billion for 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 last year, the business earned $0.45 earnings per share. On average, research analysts anticipate that Tesla will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of Tesla 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 transaction, the director now owns 477,011 shares of the company's stock, valued at $114,859,478.69. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 870,721 shares of company stock valued at $286,248,728 in the last three months. 20.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. Susquehanna Fundamental Investments LLC purchased a new stake in Tesla during the 4th quarter valued at approximately $56,600,000. Stephens Consulting LLC increased its holdings in shares of Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after purchasing an additional 891 shares during the period. Strategic Family Wealth Counselors L.L.C. raised its stake in shares of Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after purchasing an additional 1,629 shares during the last quarter. Harvard Management Co. Inc. purchased a new stake in shares of Tesla during the fourth quarter worth approximately $8,158,000. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Tesla by 23.0% during the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock worth $130,158,000 after purchasing an additional 60,342 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.