Tesla (NASDAQ:TSLA) Given New $410.00 Price Target at Morgan Stanley

Tesla (NASDAQ:TSLA) had its price target reduced by Morgan Stanley from $430.00 to $410.00 in a research report report published on Friday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the electric vehicle producer’s stock.

Other research analysts also recently issued research reports about the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $404.00 price target on shares of Tesla in a research note on Monday, March 17th. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research note on Tuesday. Piper Sandler dropped their price target on Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research note on Wednesday, March 12th. Finally, Glj Research reaffirmed a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $318.93.

Tesla Stock Up 5.3 %

TSLA opened at $248.71 on Friday. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market capitalization of $799.98 billion, a P/E ratio of 121.92, a P/E/G ratio of 5.86 and a beta of 2.50. The stock has a fifty day moving average of $335.19 and a 200-day moving average of $319.68.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities analysts expect that Tesla will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 477,228 shares of company stock worth $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently modified their holdings of TSLA. True Wealth Design LLC raised its position in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. raised its position in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC acquired a new position in shares of Tesla during the fourth quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla during the fourth quarter worth approximately $38,000. 66.20% of the stock is currently owned by institutional investors.

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.