Tesla (NASDAQ:TSLA) PT Lowered to $120.00 at Sanford C. Bernstein

Tesla (NASDAQ:TSLA) had its target price lowered by Sanford C. Bernstein from $150.00 to $120.00 in a report released on Tuesday morning, Benzinga reports. Sanford C. Bernstein currently has an underperform rating on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other research reports. Mizuho reaffirmed a neutral rating and issued a $195.00 price objective (down previously from $270.00) on shares of Tesla in a report on Monday. Wedbush reissued an outperform rating and issued a $315.00 price target on shares of Tesla in a research note on Wednesday, March 13th. Oppenheimer reissued a market perform rating on shares of Tesla in a research note on Monday. Citigroup reduced their price target on shares of Tesla from $255.00 to $224.00 and set a neutral rating on the stock in a research note on Thursday, January 25th. Finally, Canaccord Genuity Group cut their target price on shares of Tesla from $267.00 to $234.00 and set a buy rating on the stock in a research note on Thursday, January 25th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $204.63.

Tesla Price Performance

Shares of TSLA opened at $175.79 on Tuesday. The company has a market cap of $559.85 billion, a price-to-earnings ratio of 40.79, a price-to-earnings-growth ratio of 4.01 and a beta of 2.41. Tesla has a twelve month low of $152.37 and a twelve month high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $187.78 and a two-hundred day moving average of $222.06.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business earned $1.07 earnings per share. As a group, analysts predict that Tesla will post 2.44 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,598 shares of company stock worth $36,952,434. Company insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. increased its stake in shares of Tesla by 7.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after buying an additional 1,943 shares during the last quarter. HighPoint Advisor Group LLC acquired a new position in Tesla in the fourth quarter worth $23,306,000. Fairman Group LLC acquired a new position in Tesla in the fourth quarter worth $486,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares during the period. Finally, Warren Street Wealth Advisors LLC boosted its holdings in Tesla by 3.1% in the fourth quarter. Warren Street Wealth Advisors LLC now owns 4,591 shares of the electric vehicle producer’s stock worth $1,141,000 after purchasing an additional 137 shares during the period. 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.