UBS Group Has Lowered Expectations for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA) had its price target decreased by UBS Group from $225.00 to $190.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “sell” rating on the electric vehicle producer’s stock. UBS Group’s target price indicates a potential downside of 24.52% from the stock’s current price.

A number of other equities analysts have also recently commented on TSLA. Mizuho reduced their price target on Tesla from $430.00 to $375.00 and set an “outperform” rating for the company in a report on Thursday. Guggenheim reduced their target price on shares of Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research report on Wednesday, March 12th. Stifel Nicolaus reduced their price target on Tesla from $474.00 to $455.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Wedbush reduced their target price on Tesla from $550.00 to $315.00 and set an “outperform” rating on the stock in a report on Monday. Finally, HSBC reduced their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. Eight analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $298.59.

Tesla Price Performance

Tesla stock traded down $20.48 during mid-day trading on Thursday, hitting $251.72. The company’s stock had a trading volume of 122,400,695 shares, compared to its average volume of 95,494,948. The stock’s fifty day moving average price is $290.62 and its two-hundred day moving average price is $323.14. 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 has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market capitalization of $809.67 billion, a P/E ratio of 122.35, a P/E/G ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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 10.31%. Research analysts forecast that Tesla will post 2.56 earnings per share for the current year.

Insider Activity

In related news, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Several large investors have recently modified their holdings of TSLA. True Wealth Design LLC boosted its stake in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. lifted its position in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. boosted its holdings in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC acquired a new stake in shares of Tesla during the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Tesla during the 4th quarter worth $38,000. Institutional investors own 66.20% of the company’s stock.

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.