Tesla (NASDAQ:TSLA) Given New $440.00 Price Target at Robert W. Baird

Tesla (NASDAQ:TSLA) had its target price reduced by Robert W. Baird from $480.00 to $440.00 in a report released on Thursday,Benzinga reports. They currently have an outperform rating on the electric vehicle producer’s stock.

Several other equities analysts also recently weighed in on TSLA. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Canaccord Genuity Group lifted their price objective on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Wedbush lifted their price target on shares of Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Finally, Truist Financial raised their target price on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $318.31.

Tesla Trading Up 2.9 %

NASDAQ:TSLA opened at $400.28 on Thursday. The company has a market capitalization of $1.28 trillion, a PE ratio of 196.22, a price-to-earnings-growth ratio of 8.08 and a beta of 2.30. Tesla has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a fifty day simple moving average of $401.98 and a 200-day simple moving average of $297.28. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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 10.54%. On average, equities research analysts expect that Tesla will post 2.82 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction 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 approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 553,386 shares of company stock valued at $196,305,796. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC acquired a new position in Tesla in the third quarter worth about $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Tesla during the fourth quarter valued at approximately $46,000. PayPay Securities Corp grew its position in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares in the last quarter. Clean Yield Group increased its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Tesla during the 3rd quarter valued at approximately $35,000. 66.20% of the stock is 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.