Tesla (NASDAQ:TSLA) Price Target Lowered to $410.00 at Morgan Stanley

Tesla (NASDAQ:TSLA) had its price target cut by equities research analysts at Morgan Stanley from $430.00 to $410.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the electric vehicle producer’s stock. Morgan Stanley’s price target suggests a potential upside of 73.54% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Piper Sandler reduced their price objective on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research note on Thursday. Wedbush restated an “outperform” rating and issued a $550.00 price objective on shares of Tesla in a research note on Thursday. Oppenheimer restated a “mixed” rating on shares of Tesla in a research note on Tuesday. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, Mizuho cut their target price on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $318.93.

Tesla Stock Performance

TSLA stock opened at $236.26 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $759.93 billion, a price-to-earnings ratio of 115.81, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a 50 day moving average of $338.11 and a two-hundred day moving average of $319.44.

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

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the firm’s 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 sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently made changes to their positions in the business. True Wealth Design LLC grew its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Horrell Capital Management Inc. grew its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. grew its stake in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares in the last quarter. Navigoe LLC bought a new position in shares of Tesla in the fourth quarter valued at $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla in the fourth quarter valued at $38,000. 66.20% of the stock is owned by institutional investors.

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.