Mizuho Lowers Tesla (NASDAQ:TSLA) Price Target to $180.00

Tesla (NASDAQ:TSLA) had its target price dropped by Mizuho from $195.00 to $180.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the electric vehicle producer’s stock. Mizuho’s target price points to a potential upside of 5.77% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Guggenheim reiterated a “sell” rating and set a $122.00 price objective on shares of Tesla in a report on Tuesday. Canaccord Genuity Group reduced their price objective on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, January 25th. JPMorgan Chase & Co. reduced their price objective on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 3rd. Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut shares of Tesla from a “buy” rating to a “hold” rating and reduced their price objective for the company from $189.00 to $123.00 in a report on Thursday, April 18th. Eight equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $186.70.

Tesla Stock Performance

NASDAQ TSLA opened at $170.18 on Wednesday. The company has a market cap of $541.99 billion, a P/E ratio of 43.41, a PEG ratio of 3.82 and a beta of 2.39. The company has a fifty day simple moving average of $175.67 and a 200 day simple moving average of $208.64. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.68%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 earnings per share. Sell-side analysts predict that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 over the last quarter. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently bought and sold shares of TSLA. Norges Bank bought a new stake in Tesla during the 4th quarter worth approximately $7,844,757,000. International Assets Investment Management LLC increased its holdings in Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after acquiring an additional 6,179,032 shares during the period. Vanguard Group Inc. increased its holdings in Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares during the period. California Public Employees Retirement System increased its holdings in Tesla by 34.0% during the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after acquiring an additional 2,293,344 shares during the period. Finally, Morgan Stanley increased its holdings in Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after acquiring an additional 2,177,397 shares during the period. 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.