Tesla (NASDAQ:TSLA) Given New $400.00 Price Target at Piper Sandler

Tesla (NASDAQ:TSLA) had its target price lowered by Piper Sandler from $450.00 to $400.00 in a report issued on Wednesday morning, Marketbeat.com reports. The firm currently has an overweight rating on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other research reports. UBS Group lowered their price target on Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a report on Thursday, April 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $425.00 price target on shares of Tesla in a research report on Thursday, April 3rd. Stifel Nicolaus decreased their price objective on Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a report on Monday, March 31st. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Finally, Truist Financial reduced their price target on shares of Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a report on Thursday, April 3rd. Nine investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $292.18.

Tesla Stock Performance

Shares of Tesla stock opened at $241.55 on Wednesday. Tesla has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a market capitalization of $776.95 billion, a PE ratio of 118.41, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The stock’s fifty day moving average is $277.86 and its two-hundred day moving average is $322.47. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, analysts expect that Tesla will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction 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 completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock valued at $123,791,123 in the last 90 days. 20.70% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

Institutional investors have recently bought and sold shares of the business. True Wealth Design LLC increased its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% during the 4th 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 last quarter. GS Investments Inc. lifted its stake in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares in the last quarter. Navigoe LLC purchased a new stake in Tesla during the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla during the fourth quarter valued at approximately $38,000. 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.