Tesla (NASDAQ:TSLA) Price Target Lowered to $465.00 at Deutsche Bank Aktiengesellschaft

Tesla (NASDAQ:TSLAGet Free Report) had its target price reduced by Deutsche Bank Aktiengesellschaft from $480.00 to $465.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm currently has a “buy” rating on the electric vehicle producer’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 37.70% from the company’s current price.

Several other equities analysts have also recently weighed in on TSLA. Benchmark reaffirmed a “buy” rating on shares of Tesla in a research note on Wednesday, February 11th. Wedbush reaffirmed an “outperform” rating and set a $600.00 target price on shares of Tesla in a research note on Friday, March 27th. TD Cowen lifted their target price on Tesla from $509.00 to $519.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Bank of America started coverage on Tesla in a research note on Wednesday, March 4th. They set a “buy” rating and a $460.00 target price on the stock. Finally, Robert W. Baird lowered their target price on Tesla from $548.00 to $538.00 and set an “outperform” rating on the stock in a research note on Thursday, April 2nd. Nineteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and ten have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $400.01.

View Our Latest Stock Report on TSLA

Tesla Trading Down 1.6%

Shares of TSLA opened at $337.68 on Thursday. The business’s 50-day moving average price is $395.97 and its 200 day moving average price is $425.97. The stock has a market capitalization of $1.27 trillion, a P/E ratio of 313.96, a P/E/G ratio of 10.69 and a beta of 1.91. Tesla has a 1-year low of $222.79 and a 1-year high of $498.83. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. Tesla had a return on equity of 4.86% and a net margin of 4.00%.The firm had revenue of $24.90 billion for the quarter, compared to analysts’ expectations of $24.75 billion. During the same quarter last year, the business posted $0.73 EPS. Tesla’s revenue was down 3.1% on a year-over-year basis. Analysts expect that Tesla will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,264 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $397.03, for a total value of $898,875.92. Following the completion of the sale, the chief financial officer directly owned 18,106 shares in the company, valued at approximately $7,188,625.18. The trade was a 11.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 25,809 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $359.33, for a total value of $9,273,947.97. Following the completion of the sale, the director owned 33,860 shares of the company’s stock, valued at approximately $12,166,913.80. This trade represents a 43.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 53,804 shares of company stock valued at $20,865,598. Corporate insiders own 19.90% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently modified their holdings of TSLA. Networth Advisors LLC bought a new stake in Tesla in the fourth quarter valued at $26,000. Chapman Financial Group LLC acquired a new stake in Tesla during the 2nd quarter worth approximately $26,000. Davidson Capital Management Inc. raised its holdings in Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 27 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Tesla in the 3rd quarter valued at $29,000. Finally, Prism Advisors Inc. acquired a new position in Tesla in the 4th quarter valued at $30,000. 66.20% of the stock is currently owned by institutional investors.

Key Headlines Impacting Tesla

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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.

Further Reading

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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