Deutsche Bank Aktiengesellschaft Lowers Tesla (NASDAQ:TSLA) Price Target to $345.00

Tesla (NASDAQ:TSLA) had its price target reduced by analysts at Deutsche Bank Aktiengesellschaft from $420.00 to $345.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the electric vehicle producer’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 26.31% from the company’s previous close.

TSLA has been the topic of several other reports. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research note on Monday, January 6th. Wedbush reaffirmed an “outperform” rating and set a $550.00 price objective on shares of Tesla in a research note on Thursday. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Truist Financial increased their target price on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $318.34.

Tesla Price Performance

Tesla stock opened at $273.13 on Friday. The business has a 50 day simple moving average of $324.59 and a 200 day simple moving average of $321.35. Tesla has a one year low of $138.80 and a one year high of $488.54. The company has a market capitalization of $878.53 billion, a PE ratio of 133.89, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last posted its 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, sell-side analysts forecast that Tesla will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated 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 transaction, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by insiders.

Institutional Trading of Tesla

Several institutional investors have recently modified their holdings of TSLA. Milestone Asset Management Group LLC bought a new stake in shares of Tesla in the 4th quarter valued at about $1,186,000. Avant Financial Advisors LLC bought a new position in Tesla during the 4th quarter worth approximately $519,000. Fire Capital Management LLC acquired a new position in shares of Tesla in the 4th quarter worth approximately $5,424,000. Fulcrum Equity Management boosted its stake in shares of Tesla by 4.7% in the 4th quarter. Fulcrum Equity Management now owns 1,103 shares of the electric vehicle producer’s stock valued at $445,000 after purchasing an additional 50 shares during the last quarter. Finally, M1 Capital Management LLC acquired a new stake in shares of Tesla during the fourth quarter worth $863,000. 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.