Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA) had its price target dropped by Deutsche Bank Aktiengesellschaft from $420.00 to $345.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the electric vehicle producer’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 26.31% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Robert W. Baird decreased their price objective on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. cut their price objective on Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 12th. Finally, Evercore ISI upped their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $318.34.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $273.13 on Friday. The company has a market capitalization of $878.53 billion, a price-to-earnings ratio of 133.89, a PEG ratio of 5.86 and a beta of 2.50. 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 1-year low of $138.80 and a 1-year high of $488.54. The business has a 50-day moving average of $324.59 and a 200-day moving average of $321.35.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities analysts anticipate that Tesla will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TSLA. Milestone Asset Management Group LLC acquired a new stake in shares of Tesla in the fourth quarter valued at about $1,186,000. Avant Financial Advisors LLC bought a new position in Tesla in the 4th quarter worth approximately $519,000. Fire Capital Management LLC acquired a new position in shares of Tesla during the fourth quarter worth approximately $5,424,000. Fulcrum Equity Management boosted its position in shares of Tesla by 4.7% in the fourth quarter. Fulcrum Equity Management now owns 1,103 shares of the electric vehicle producer’s stock valued at $445,000 after acquiring an additional 50 shares during the period. Finally, M1 Capital Management LLC acquired a new stake in shares of Tesla in the fourth quarter worth $863,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.