Mizuho Cuts Tesla (NASDAQ:TSLA) Price Target to $430.00

Tesla (NASDAQ:TSLA) had its price target cut by Mizuho from $515.00 to $430.00 in a research note published on Monday, MarketBeat Ratings reports. They currently have an outperform rating on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other reports. Morgan Stanley restated a “top pick” rating and issued a $430.00 target price on shares of Tesla in a research note on Monday, March 3rd. Wells Fargo & Company decreased their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and upped their target price for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $321.12.

Tesla Stock Performance

NASDAQ:TSLA opened at $235.86 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla has a 52-week low of $138.80 and a 52-week high of $488.54. The firm has a market cap of $758.65 billion, a price-to-earnings ratio of 115.62, a PEG ratio of 5.86 and a beta of 2.50. The business’s fifty day moving average is $341.28 and its 200 day moving average is $320.02.

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

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 over the last quarter. 20.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

Large investors have recently made changes to their positions in the business. True Wealth Design LLC increased its stake in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. increased 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 valued at $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. raised its holdings in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC bought a new position in Tesla in the 4th quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust bought a new position in Tesla in the 4th quarter valued at approximately $38,000. 66.20% of the stock is currently owned by hedge funds and other 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.