Tesla (NASDAQ:TSLA) Price Target Lowered to $440.00 at Robert W. Baird

Tesla (NASDAQ:TSLA) had its price target trimmed by Robert W. Baird from $480.00 to $440.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the electric vehicle producer’s stock.

A number of other research firms have also recently issued reports on TSLA. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a report on Monday, January 6th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Glj Research reissued a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Friday, January 3rd. Evercore ISI increased their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Nine analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $318.31.

Tesla Stock Up 1.1 %

TSLA opened at $404.60 on Thursday. Tesla has a twelve month low of $138.80 and a twelve month high of $488.54. The firm has a market cap of $1.30 trillion, a price-to-earnings ratio of 198.33, a PEG ratio of 8.08 and a beta of 2.30. The firm’s 50-day simple moving average is $404.22 and its 200-day simple moving average is $299.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.54%. Equities research analysts anticipate that Tesla will post 2.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Friday, November 8th. The stock was sold at an average price of $300.37, for a total value of $2,402,960.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $31,548,461.84. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 553,386 shares of company stock worth $196,305,796. Corporate insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its stake in shares of Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Assenagon Asset Management S.A. increased its position in Tesla by 194.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after buying an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Tesla by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after acquiring an additional 2,511,488 shares during the period. Institutional investors 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.