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

Tesla (NASDAQ:TSLA - Get Free Report) had its price target lowered by equities researchers at The Goldman Sachs Group from $315.00 to $285.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the electric vehicle producer's stock. The Goldman Sachs Group's price objective would suggest a potential downside of 7.24% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Mizuho reduced their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday. Royal Bank Of Canada decreased their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Robert W. Baird reiterated a "neutral" rating and issued a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Finally, Roth Mkm decreased their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus price target of $300.19.

Tesla Price Performance

NASDAQ TSLA traded down $2.64 on Friday, reaching $307.23. The company's stock had a trading volume of 25,474,094 shares, compared to its average volume of 100,108,652. The firm's 50 day moving average is $322.07 and its two-hundred day moving average is $322.26. The stock has a market cap of $989.59 billion, a PE ratio of 168.81, a PEG ratio of 8.80 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla has a twelve month low of $182.00 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) 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 analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the previous year, the business posted $0.45 earnings per share. As a group, sell-side analysts predict that Tesla will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 835,509 shares of company stock worth $279,420,485. Insiders own 20.70% of the company's stock.

Hedge Funds Weigh In On Tesla

Several large investors have recently added to or reduced their stakes in TSLA. Eagle Capital Management LLC purchased a new position in Tesla in the 4th quarter valued at approximately $331,000. Brighton Jones LLC lifted its stake in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Tesla during the fourth quarter valued at about $346,000. Finally, Highview Capital Management LLC DE bought a new position in shares of Tesla during the fourth quarter valued at about $2,367,000. Institutional investors own 66.20% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.