Tesla (TSLA) Price Target Lowered to $376.00 at Morgan Stanley

Tesla (NASDAQ:TSLA) had its target price cut by research analysts at Morgan Stanley from $379.00 to $376.00 in a research note issued to investors on Wednesday. The firm presently has an “equal weight” rating on the electric vehicle producer’s stock. Morgan Stanley’s price target indicates a potential upside of 25.30% from the stock’s current price.

TSLA has been the subject of a number of other reports. Zacks Investment Research downgraded Tesla from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. Goldman Sachs lowered their price target on Tesla from $205.00 to $195.00 and set a “sell” rating for the company in a report on Tuesday, April 10th. Vetr lowered Tesla from a “buy” rating to a “hold” rating and set a $331.97 price objective for the company. in a research report on Tuesday, January 9th. ValuEngine upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Nomura restated a “buy” rating and set a $500.00 price objective on shares of Tesla in a research report on Thursday, January 4th. Thirteen research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $304.33.

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Shares of NASDAQ TSLA opened at $300.08 on Wednesday. Tesla has a twelve month low of $244.59 and a twelve month high of $389.61. The company has a quick ratio of 0.56, a current ratio of 0.86 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $48,596.57, a PE ratio of -26.14 and a beta of 1.19.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the business earned ($0.69) EPS. The business’s quarterly revenue was up 43.9% on a year-over-year basis. equities analysts forecast that Tesla will post -15.15 EPS for the current year.

In other news, VP John Douglas Field sold 1,000 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $321.41, for a total value of $321,410.00. Following the completion of the sale, the vice president now owns 20,561 shares in the company, valued at $6,608,511.01. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Eric Branderiz sold 401 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $353.50, for a total value of $141,753.50. Following the completion of the sale, the vice president now owns 1,248 shares of the company’s stock, valued at approximately $441,168. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,529 shares of company stock valued at $1,786,841. Insiders own 23.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Quantitative Investment Management LLC acquired a new stake in shares of Tesla in the fourth quarter valued at $30,045,000. Laurel Wealth Advisors Inc. lifted its holdings in shares of Tesla by 40.2% in the fourth quarter. Laurel Wealth Advisors Inc. now owns 1,692 shares of the electric vehicle producer’s stock valued at $526,000 after buying an additional 485 shares during the period. APG Asset Management N.V. lifted its holdings in shares of Tesla by 43.4% in the fourth quarter. APG Asset Management N.V. now owns 213,861 shares of the electric vehicle producer’s stock valued at $55,451,000 after buying an additional 64,712 shares during the period. Private Capital Advisors Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at $318,000. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Tesla by 1,500.0% in the fourth quarter. State of Alaska Department of Revenue now owns 13,504 shares of the electric vehicle producer’s stock valued at $4,203,000 after buying an additional 12,660 shares during the period. Institutional investors and hedge funds 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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