Tesla (NASDAQ:TSLA) Price Target Cut to $120.00 by Analysts at JPMorgan Chase & Co.

Tesla (NASDAQ:TSLA) had its price objective trimmed by JPMorgan Chase & Co. from $135.00 to $120.00 in a research report report published on Wednesday,Benzinga reports. They currently have an underweight rating on the electric vehicle producer’s stock.

A number of other research firms have also commented on TSLA. Guggenheim reduced their price target on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research report on Wednesday. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Finally, UBS Group reduced their target price on shares of Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research report on Monday, March 10th. Nine research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $325.65.

Tesla Stock Performance

NASDAQ TSLA opened at $249.98 on Wednesday. The stock has a market cap of $804.06 billion, a P/E ratio of 122.54, a PEG ratio of 5.86 and a beta of 2.50. Tesla has a twelve month low of $138.80 and a twelve month high of $488.54. 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’s 50-day simple moving average is $351.31 and its 200 day simple moving average is $318.74.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. As a group, research analysts forecast that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the firm’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 owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This trade represents a 9.02 % 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. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC grew its position in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares during the period. Horrell Capital Management Inc. grew its position in shares of Tesla by 75.6% in the 4th 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 during the period. Peterson Financial Group Inc. bought a new position in shares of Tesla in the 3rd quarter valued at about $35,000. GS Investments Inc. grew its position in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the period. Finally, Navigoe LLC bought a new position in shares of Tesla in the 4th quarter valued at about $37,000. 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.