Stifel Nicolaus Cuts Tesla (NASDAQ:TSLA) Price Target to $474.00

Tesla (NASDAQ:TSLA) had its target price cut by Stifel Nicolaus from $492.00 to $474.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the electric vehicle producer’s stock.

Other research analysts also recently issued research reports about the company. Wedbush increased their price target on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Truist Financial raised their price target on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Mizuho reaffirmed an “outperform” rating and issued a $515.00 price target on shares of Tesla in a report on Thursday, January 30th. Wells Fargo & Company raised their price objective on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, January 30th. Finally, Canaccord Genuity Group upped their target price on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $321.71.

Tesla Trading Down 3.0 %

TSLA opened at $350.73 on Monday. The firm’s 50 day moving average is $408.27 and its 200-day moving average is $304.55. Tesla has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.13 trillion, a P/E ratio of 171.93, a P/E/G ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts expect that Tesla will post 2.54 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 635,776 shares of company stock worth $231,335,112 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the third quarter valued at $29,000. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the third quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the fourth quarter worth approximately $46,000. Parkworth Wealth Management Inc. acquired a new stake in shares of Tesla during the fourth quarter valued at approximately $47,000. Finally, PayPay Securities Corp lifted its position in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares in the last quarter. Institutional investors 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.