Tesla (NASDAQ:TSLA) PT Lowered to $293.00 at Royal Bank of Canada

Tesla (NASDAQ:TSLA) had its price objective reduced by Royal Bank of Canada from $294.00 to $293.00 in a report released on Wednesday morning, Marketbeat.com reports. They currently have an outperform rating on the electric vehicle producer’s stock.

Several other equities research analysts have also recently weighed in on TSLA. The Goldman Sachs Group dropped their price target on shares of Tesla from $190.00 to $175.00 and set a neutral rating for the company in a research report on Tuesday, April 9th. Edward Jones cut shares of Tesla from a buy rating to a hold rating in a research report on Friday, January 26th. HSBC dropped their price target on shares of Tesla from $143.00 to $138.00 and set a reduce rating for the company in a research report on Wednesday, April 3rd. Robert W. Baird reaffirmed an outperform rating and issued a $280.00 target price on shares of Tesla in a research report on Wednesday, April 17th. Finally, Daiwa Capital Markets cut shares of Tesla from an outperform rating to a neutral rating and dropped their target price for the stock from $245.00 to $195.00 in a research report on Tuesday, February 6th. Eight research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $186.70.

Tesla Stock Performance

Shares of TSLA stock opened at $168.29 on Wednesday. The firm’s 50-day simple moving average is $175.04 and its two-hundred day simple moving average is $208.00. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72. The firm has a market cap of $535.97 billion, a price-to-earnings ratio of 42.93, a P/E/G ratio of 4.28 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the prior year, the business posted $1.07 EPS. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities analysts forecast that Tesla will post 1.97 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 over the last 90 days. 25.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pinnacle Associates Ltd. grew its holdings in Tesla by 4.8% during the first quarter. Pinnacle Associates Ltd. now owns 64,063 shares of the electric vehicle producer’s stock worth $11,262,000 after acquiring an additional 2,927 shares during the period. Sterling Investment Counsel LLC grew its holdings in Tesla by 86.1% in the first quarter. Sterling Investment Counsel LLC now owns 4,608 shares of the electric vehicle producer’s stock valued at $810,000 after purchasing an additional 2,132 shares during the last quarter. BLB&B Advisors LLC grew its holdings in Tesla by 54.2% in the first quarter. BLB&B Advisors LLC now owns 5,141 shares of the electric vehicle producer’s stock valued at $904,000 after purchasing an additional 1,808 shares during the last quarter. MBA Advisors LLC acquired a new stake in Tesla in the first quarter valued at $336,000. Finally, Prestige Wealth Management Group LLC grew its holdings in Tesla by 14.5% in the first quarter. Prestige Wealth Management Group LLC now owns 8,238 shares of the electric vehicle producer’s stock valued at $1,448,000 after purchasing an additional 1,046 shares during the last quarter. Institutional investors and hedge funds 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.