TD Cowen Boosts Tesla (NASDAQ:TSLA) Price Target to $180.00

Tesla (NASDAQ:TSLA) had its price objective increased by analysts at TD Cowen from $160.00 to $180.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the electric vehicle producer’s stock. TD Cowen’s target price would indicate a potential downside of 26.95% from the company’s previous close.

A number of other research firms have also recently commented on TSLA. Barclays decreased their price target on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research note on Wednesday, April 24th. HSBC reduced their price objective on Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 24th. Truist Financial reissued a “hold” rating and issued a $162.00 target price on shares of Tesla in a report on Wednesday. Finally, Jefferies Financial Group dropped their target price on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $189.47.

Tesla Price Performance

Shares of TSLA stock traded up $15.13 during trading hours on Wednesday, reaching $246.39. The company had a trading volume of 164,907,094 shares, compared to its average volume of 97,060,453. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The stock has a fifty day moving average of $180.89 and a 200-day moving average of $190.93. The company has a market capitalization of $785.79 billion, a price-to-earnings ratio of 62.85, a PEG ratio of 4.91 and a beta of 2.31. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. On average, equities analysts anticipate that Tesla will post 1.86 earnings per share for the current year.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors have recently made changes to their positions in TSLA. Wyrmwood Management LLC bought a new stake in Tesla during the fourth quarter worth approximately $25,000. Lam Group Inc. bought a new stake in Tesla during the fourth quarter worth approximately $25,000. Mendota Financial Group LLC boosted its stake in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in Tesla in the 4th quarter worth approximately $37,000. Finally, Kathleen S. Wright Associates Inc. boosted its stake in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

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.