Robert W. Baird Has Lowered Expectations for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA) had its target price lowered by stock analysts at Robert W. Baird from $440.00 to $370.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the electric vehicle producer’s stock. Robert W. Baird’s price target would suggest a potential upside of 32.57% from the stock’s current price.

Several other research analysts have also commented on TSLA. Truist Financial lifted their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Canaccord Genuity Group upped their target price on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Wedbush set a $302.80 price target on Tesla in a report on Wednesday, February 26th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Mizuho reaffirmed an “outperform” rating and issued a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $313.15.

Tesla Trading Up 2.6 %

NASDAQ:TSLA opened at $279.10 on Thursday. The company has a market cap of $897.73 billion, a PE ratio of 136.81, a P/E/G ratio of 5.86 and a beta of 2.50. The business’s 50 day moving average is $374.97 and its two-hundred day moving average is $318.13. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. 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 data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. On average, analysts predict that Tesla will post 2.56 EPS for the current year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 422,386 shares of company stock worth $153,916,675 over the last 90 days. 20.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently bought and sold shares of the business. True Wealth Design LLC grew its position in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the third quarter worth $29,000. Horrell Capital Management Inc. raised its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in Tesla during the third quarter valued at $35,000. Finally, GS Investments Inc. grew its stake in 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 purchasing an additional 58 shares in 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.