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

Tesla (NASDAQ:TSLA) had its price objective cut by Deutsche Bank Aktiengesellschaft from $420.00 to $345.00 in a research note published on Friday morning, Marketbeat.com reports. They currently have a buy rating on the electric vehicle producer’s stock.

Several other research analysts have also commented on the stock. The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Cantor Fitzgerald raised Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price objective on the stock in a research report on Wednesday, March 19th. Glj Research restated a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Robert W. Baird lowered their target price on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, Cowen raised Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Nine research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $318.34.

Tesla Stock Down 3.5 %

Shares of NASDAQ:TSLA opened at $263.55 on Friday. The firm has a market cap of $847.71 billion, a price-to-earnings ratio of 129.19, a PEG ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average price is $321.33 and its two-hundred day moving average price is $323.01. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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, research analysts forecast that Tesla will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 in the last ninety days. 20.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. True Wealth Design LLC boosted its holdings in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 31 shares in the last quarter. Horrell Capital Management Inc. grew its holdings in shares of Tesla by 75.6% in the 4th 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 during the last quarter. GS Investments Inc. raised its position in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC purchased a new stake in shares of Tesla during the fourth quarter valued at $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla in the 4th quarter valued at $38,000. 66.20% of the stock is currently owned by institutional investors.

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.