Tesla (NASDAQ:TSLA) Given New $227.00 Price Target at Royal Bank of Canada

Tesla (NASDAQ:TSLA) had its price target lowered by Royal Bank of Canada from $293.00 to $227.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the electric vehicle producer’s stock.

Several other equities analysts also recently issued reports on TSLA. Roth Mkm restated a neutral rating and set a $85.00 price objective on shares of Tesla in a report on Wednesday, April 24th. The Goldman Sachs Group restated a neutral rating and set a $175.00 price target on shares of Tesla in a research note on Friday, June 14th. Sanford C. Bernstein reiterated an underperform rating and set a $120.00 price objective on shares of Tesla in a research note on Monday, June 10th. Barclays cut their target price on Tesla from $225.00 to $180.00 and set an equal weight rating on the stock in a research report on Wednesday, April 17th. Finally, Wedbush reaffirmed an outperform rating and set a $275.00 price target on shares of Tesla in a research report on Friday, June 14th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $183.62.

Tesla Price Performance

NASDAQ TSLA opened at $181.57 on Thursday. The firm’s fifty day simple moving average is $173.75 and its two-hundred day simple moving average is $194.08. The firm has a market capitalization of $579.06 billion, a P/E ratio of 46.32, a P/E/G ratio of 4.58 and a beta of 2.32. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Analysts forecast that Tesla will post 1.87 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,855 shares of company stock valued at $19,285,643. 25.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Holderness Investments Co. boosted its holdings in Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after acquiring an additional 42 shares during the period. Daymark Wealth Partners LLC lifted its holdings in Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after buying an additional 45 shares in the last quarter. Cravens & Co Advisors LLC grew its stake in shares of Tesla by 1.2% during the third quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock valued at $1,025,000 after acquiring an additional 48 shares in the last quarter. Patten & Patten Inc. TN lifted its stake in shares of Tesla by 1.1% in the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after acquiring an additional 48 shares in the last quarter. Finally, Caerus Investment Advisors LLC increased its holdings in Tesla by 0.3% during the 4th quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock worth $3,577,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.