UBS Group Lowers Tesla (NASDAQ:TSLA) Price Target to $385.00

Tesla (NASDAQ:TSLAGet Free Report) had its target price decreased by stock analysts at UBS Group from $442.00 to $385.00 in a note issued to investors on Thursday. The brokerage currently has a “neutral” rating on the electric vehicle producer’s stock. UBS Group’s price objective indicates a potential upside of 19.49% from the company’s current price.

Several other brokerages also recently commented on TSLA. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Tesla in a report on Tuesday, June 30th. Morgan Stanley started coverage on Tesla in a research report on Monday. They set a “hold” rating for the company. The Goldman Sachs Group began coverage on Tesla in a research note on Friday, June 5th. They issued a “buy” rating on the stock. Citizens Jmp started coverage on shares of Tesla in a research report on Thursday, July 9th. They set a “market perform” rating for the company. Finally, President Capital boosted their price target on shares of Tesla from $424.00 to $428.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Twenty-one research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $406.42.

View Our Latest Analysis on Tesla

Tesla Trading Down 13.9%

NASDAQ TSLA traded down $51.81 during trading hours on Thursday, reaching $322.20. The company’s stock had a trading volume of 42,639,536 shares, compared to its average volume of 56,312,199. The firm has a fifty day simple moving average of $405.39 and a 200-day simple moving average of $404.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. Tesla has a 52 week low of $297.82 and a 52 week high of $498.83. The stock has a market cap of $1.21 trillion, a P/E ratio of 296.50, a P/E/G ratio of 12.72 and a beta of 1.80.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.17). The business had revenue of $28.24 billion during the quarter, compared to analyst estimates of $26.42 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The company’s revenue was up 25.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 earnings per share. Equities analysts forecast that Tesla will post 1.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the transaction, the chief financial officer owned 22,039 shares in the company, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the transaction, the director directly owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 32,015 shares of company stock valued at $12,383,640. 19.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PFS Partners LLC lifted its position in shares of Tesla by 4.2% in the 4th quarter. PFS Partners LLC now owns 590 shares of the electric vehicle producer’s stock worth $265,000 after purchasing an additional 24 shares during the period. Woodmont Investment Counsel LLC lifted its position in Tesla by 1.2% during the 4th quarter. Woodmont Investment Counsel LLC now owns 2,124 shares of the electric vehicle producer’s stock valued at $955,000 after acquiring an additional 25 shares during the period. Aspect Partners LLC grew its holdings in Tesla by 12.5% in the fourth quarter. Aspect Partners LLC now owns 225 shares of the electric vehicle producer’s stock worth $101,000 after purchasing an additional 25 shares during the period. Human Investing LLC increased its stake in shares of Tesla by 4.5% during the fourth quarter. Human Investing LLC now owns 578 shares of the electric vehicle producer’s stock valued at $260,000 after purchasing an additional 25 shares in the last quarter. Finally, SilverOak Wealth Management LLC lifted its holdings in shares of Tesla by 2.3% during the fourth quarter. SilverOak Wealth Management LLC now owns 1,117 shares of the electric vehicle producer’s stock valued at $502,000 after purchasing an additional 25 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

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About Tesla

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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