Tesla (NASDAQ:TSLA) Price Target Cut to $130.00 by Analysts at HSBC

Tesla (NASDAQ:TSLA) had its price objective cut by research analysts at HSBC from $165.00 to $130.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a “reduce” rating on the electric vehicle producer’s stock. HSBC’s price target would suggest a potential downside of 50.67% from the stock’s current price.

TSLA has been the topic of a number of other research reports. Evercore ISI increased their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and increased their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Piper Sandler lowered their target price on Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Finally, Robert W. Baird cut their price target on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $318.34.

Tesla Trading Down 3.5 %

Shares of NASDAQ TSLA opened at $263.55 on Thursday. The company has a market cap of $847.71 billion, a PE ratio of 129.19, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm’s 50 day moving average price is $321.33 and its 200-day moving average price is $321.68. Tesla has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results 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%. On average, equities research analysts expect that Tesla will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, 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 value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 477,228 shares of company stock worth $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after buying an additional 1,655,203 shares during the period. Norges Bank bought a new stake in shares of Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC boosted its holdings in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. Finally, Northern Trust Corp grew its position in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

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.