Tesla (NASDAQ:TSLA) Downgraded to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft cut shares of Tesla (NASDAQ:TSLAFree Report) from a buy rating to a hold rating in a research note published on Thursday morning, MarketBeat reports. The brokerage currently has $123.00 target price on the electric vehicle producer’s stock, down from their prior target price of $189.00.

A number of other research firms have also commented on TSLA. Daiwa Capital Markets lowered Tesla from an outperform rating to a neutral rating and lowered their price target for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. Barclays decreased their target price on Tesla from $225.00 to $180.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. Wells Fargo & Company lowered their price target on shares of Tesla from $125.00 to $120.00 and set an underweight rating for the company in a research report on Friday, April 12th. Jefferies Financial Group dropped their target price on shares of Tesla from $185.00 to $165.00 and set a hold rating on the stock in a research note on Wednesday, April 10th. Finally, Mizuho restated a neutral rating and set a $195.00 target price (down previously from $270.00) on shares of Tesla in a research note on Monday, March 25th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $194.70.

Get Our Latest Stock Analysis on Tesla

Tesla Stock Performance

Shares of Tesla stock opened at $147.05 on Thursday. The firm has a market capitalization of $468.32 billion, a P/E ratio of 34.12, a price-to-earnings-growth ratio of 3.89 and a beta of 2.39. 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 business’s fifty day simple moving average is $178.51 and its 200 day simple moving average is $210.88. Tesla has a 12 month low of $146.22 and a 12 month high of $299.29.

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

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently modified their holdings of TSLA. Wyrmwood Management LLC acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $25,000. Lam Group Inc. purchased a new stake in Tesla during the 4th quarter valued at approximately $25,000. Alpha Paradigm Partners LLC acquired a new position in shares of Tesla in the third quarter valued at approximately $27,000. MayTech Global Investments LLC purchased a new stake in shares of Tesla during the fourth quarter worth approximately $30,000. Finally, Mendota Financial Group LLC boosted its holdings in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

About Tesla

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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.

Further Reading

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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