Royal Bank of Canada Trims Tesla (NASDAQ:TSLA) Target Price to $227.00

Tesla (NASDAQ:TSLA) had its price target cut by Royal Bank of Canada from $293.00 to $227.00 in a research note published on Thursday, Benzinga 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 the stock. Barclays lowered their price target on shares of Tesla from $225.00 to $180.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. UBS Group reduced their price objective on shares of Tesla from $160.00 to $147.00 and set a neutral rating for the company in a research note on Wednesday, April 24th. The Goldman Sachs Group reiterated a neutral rating and set a $175.00 price objective on shares of Tesla in a research note on Friday, June 14th. China Renaissance began coverage on shares of Tesla in a research note on Monday, February 26th. They set a hold rating for the company. Finally, Canaccord Genuity Group reduced their price objective on shares of Tesla from $234.00 to $222.00 and set a buy rating for the company in a research note on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $183.62.

Tesla Price Performance

Tesla stock opened at $183.01 on Thursday. The firm has a 50-day moving average of $173.99 and a two-hundred day moving average of $193.40. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29. The stock has a market cap of $583.66 billion, a price-to-earnings ratio of 46.69, a price-to-earnings-growth ratio of 4.50 and a beta of 2.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. On average, research analysts forecast that Tesla will post 1.87 earnings per share for the current year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated 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 sale, 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. Over the last three months, insiders have sold 104,855 shares of company stock valued at $19,285,643. Corporate insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Keynote Financial Services LLC acquired a new position in shares of Tesla in the first quarter valued at approximately $412,000. OMC Financial Services LTD purchased a new position in Tesla in the first quarter worth approximately $1,068,000. EverSource Wealth Advisors LLC lifted its stake in Tesla by 201.3% in the first quarter. EverSource Wealth Advisors LLC now owns 53,998 shares of the electric vehicle producer’s stock worth $9,896,000 after acquiring an additional 36,075 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in Tesla by 466.9% in the first quarter. Westwood Holdings Group Inc. now owns 15,799 shares of the electric vehicle producer’s stock worth $2,777,000 after acquiring an additional 13,012 shares during the last quarter. Finally, Objective Capital Management LLC lifted its stake in Tesla by 8.7% in the first quarter. Objective Capital Management LLC now owns 1,935 shares of the electric vehicle producer’s stock worth $340,000 after acquiring an additional 155 shares during the last quarter. Institutional investors and hedge funds 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.