Tesla Inc. (NASDAQ:TSLA) had its price target lowered by J P Morgan Chase & Co from $200.00 to $195.00 in a research note issued on Friday, MarketBeat Ratings reports. The firm currently has an “underweight” rating on the electric vehicle producer’s stock. J P Morgan Chase & Co’s price target indicates a potential downside of 43.49% from the company’s previous close.

Several other equities analysts have also issued reports on TSLA. Vetr raised Tesla from a “sell” rating to a “hold” rating and set a $357.08 price target on the stock in a research note on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) set a $180.00 price target on Tesla and gave the company a “sell” rating in a research note on Friday, June 30th. Zacks Investment Research raised Tesla from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Guggenheim reaffirmed a “buy” rating and set a $430.00 price target (up previously from $380.00) on shares of Tesla in a research note on Wednesday, July 5th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $368.00 price target on shares of Tesla in a research note on Wednesday, July 5th. Eleven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $327.20.

Tesla (TSLA) traded down 1.91% on Friday, reaching $345.10. The company had a trading volume of 4,930,395 shares. The company’s market capitalization is $57.59 billion. The company’s 50 day moving average price is $355.47 and its 200-day moving average price is $339.93. Tesla has a 12 month low of $178.19 and a 12 month high of $389.61.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the firm posted ($1.06) earnings per share. The firm’s revenue for the quarter was up 119.6% compared to the same quarter last year. On average, equities analysts predict that Tesla will post ($6.59) earnings per share for the current fiscal year.

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In related news, Director Stephen T. Jurvetson sold 44,777 shares of Tesla stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the completion of the sale, the director now directly owns 36,111 shares of the company’s stock, valued at approximately $12,290,739.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $355.20, for a total value of $777,888.00. Following the sale, the director now directly owns 158,584 shares of the company’s stock, valued at $56,329,036.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,446 shares of company stock valued at $17,504,929. 23.10% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Pittenger & Anderson Inc. increased its stake in Tesla by 20.0% during the 2nd quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after acquiring an additional 50 shares during the period. Winfield Associates Inc. increased its stake in Tesla by 85.2% during the 2nd quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after acquiring an additional 150 shares during the period. Acropolis Investment Management LLC bought a new position in Tesla during the 2nd quarter worth $122,000. North Star Investment Management Corp. increased its stake in Tesla by 2.8% during the 2nd quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after acquiring an additional 9 shares during the period. Finally, Carroll Financial Associates Inc. increased its stake in Tesla by 8.7% during the 2nd quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock worth $126,000 after acquiring an additional 28 shares during the period. Hedge funds and other institutional investors own 56.62% of the company’s stock.

About Tesla

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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