Tesla (TSLA) PT Lowered to $305.00 at Royal Bank of Canada

Tesla (NASDAQ:TSLA) had its target price cut by Royal Bank of Canada to $305.00 in a research report sent to investors on Wednesday morning. They currently have a market perform rating on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other research reports. Zacks Investment Research cut Tesla from a hold rating to a sell rating in a research report on Saturday, January 20th. ValuEngine raised Tesla from a sell rating to a hold rating in a research report on Sunday, December 31st. Vetr cut Tesla from a buy rating to a hold rating and set a $331.97 price target for the company. in a research report on Tuesday, January 9th. Morgan Stanley set a $379.00 price target on Tesla and gave the stock a neutral rating in a research report on Thursday, February 8th. Finally, Cann cut Tesla from a hold rating to a sell rating in a research report on Tuesday, December 5th. Thirteen investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $313.57.

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Shares of NASDAQ TSLA opened at $299.30 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.56 and a debt-to-equity ratio of 1.80. Tesla has a one year low of $244.59 and a one year high of $389.61. The stock has a market capitalization of $51,642.20, a price-to-earnings ratio of -26.07 and a beta of 1.19.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) EPS for the quarter, beating analysts’ consensus estimates of ($3.12) by $0.08. Tesla had a negative return on equity of 33.08% and a negative net margin of 16.68%. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the company posted ($0.69) earnings per share. The business’s quarterly revenue was up 43.9% compared to the same quarter last year. equities research analysts anticipate that Tesla will post -15.15 EPS for the current fiscal year.

In related news, VP John Douglas Field sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $334.87, for a total transaction of $334,870.00. Following the transaction, the vice president now directly owns 20,128 shares in the company, valued at $6,740,263.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Eric Branderiz sold 801 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $354.58, for a total value of $284,018.58. Following the transaction, the vice president now owns 1,287 shares in the company, valued at $456,344.46. The disclosure for this sale can be found here. Insiders have sold 4,654 shares of company stock worth $1,559,211 over the last 90 days. Corporate insiders own 23.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC increased its stake in Tesla by 17.1% during the fourth quarter. Jennison Associates LLC now owns 3,382,553 shares of the electric vehicle producer’s stock valued at $1,053,158,000 after acquiring an additional 494,761 shares during the period. Bamco Inc. NY grew its stake in shares of Tesla by 0.6% in the 4th quarter. Bamco Inc. NY now owns 1,612,051 shares of the electric vehicle producer’s stock valued at $501,912,000 after purchasing an additional 10,040 shares during the period. American Century Companies Inc. grew its stake in shares of Tesla by 8.9% in the 4th quarter. American Century Companies Inc. now owns 655,149 shares of the electric vehicle producer’s stock valued at $203,981,000 after purchasing an additional 53,279 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its stake in shares of Tesla by 77.1% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 635,692 shares of the electric vehicle producer’s stock valued at $197,922,000 after purchasing an additional 276,781 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Tesla by 126.6% in the 3rd quarter. Janus Henderson Group PLC now owns 547,072 shares of the electric vehicle producer’s stock valued at $186,601,000 after purchasing an additional 305,596 shares during the period. Hedge funds and other institutional investors own 58.19% of the company’s stock.

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Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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