Tesla (NASDAQ:TSLA) Price Target Lowered to $180.00 at Mizuho

Tesla (NASDAQ:TSLA) had its price objective lowered by analysts at Mizuho from $195.00 to $180.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the electric vehicle producer’s stock. Mizuho’s target price would indicate a potential upside of 24.41% from the stock’s previous close.

Other analysts have also issued reports about the stock. Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research report on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 3rd. Sanford C. Bernstein lowered their price target on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. Citigroup lowered their price target on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, Edward Jones downgraded shares of Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Eight analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $190.30.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $144.68 on Wednesday. The firm has a 50 day moving average of $176.81 and a 200 day moving average of $209.24. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $460.78 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 3.75 and a beta of 2.39. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 earnings per share. On average, research analysts anticipate that Tesla will post 1.97 earnings per share for the current year.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,098 shares of company stock worth $38,802,534. Corporate insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after buying an additional 3,866,361 shares during the last quarter. Norges Bank purchased a new stake in Tesla in the fourth quarter valued at approximately $7,844,757,000. Morgan Stanley boosted its position in Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares during the last quarter. FMR LLC boosted its position in Tesla by 0.9% in the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after buying an additional 269,182 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Tesla by 3.4% in the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after buying an additional 909,170 shares during the last quarter. Hedge funds and other 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.