BNP Paribas Exane Cuts Tesla (NASDAQ:TSLA) Price Target to $280.00

Tesla (NASDAQ:TSLAFree Report) had its price objective reduced by BNP Paribas Exane from $313.00 to $280.00 in a research note published on Monday morning,MarketScreener reports. BNP Paribas Exane currently has an underperform rating on the electric vehicle producer’s stock.

Several other equities analysts have also commented on the company. Barclays reissued a “neutral” rating on shares of Tesla in a report on Wednesday, February 18th. Glj Research reiterated a “sell” rating on shares of Tesla in a report on Tuesday, February 24th. William Blair restated a “market perform” rating on shares of Tesla in a research note on Friday, January 2nd. Truist Financial lowered their price target on Tesla from $439.00 to $438.00 and set a “hold” rating for the company in a report on Thursday, January 29th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $405.00 price objective on shares of Tesla in a report on Thursday, January 29th. Nineteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $406.84.

Check Out Our Latest Analysis on TSLA

Tesla Stock Up 3.4%

Shares of NASDAQ:TSLA opened at $405.94 on Monday. Tesla has a fifty-two week low of $214.25 and a fifty-two week high of $498.83. The firm’s 50 day moving average price is $428.32 and its 200 day moving average price is $422.35. The company has a quick ratio of 1.77, a current ratio of 2.16 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.52 trillion, a price-to-earnings ratio of 375.87, a price-to-earnings-growth ratio of 13.97 and a beta of 1.89.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings data on Wednesday, January 28th. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The company had revenue of $24.90 billion for the quarter, compared to the consensus estimate of $24.75 billion. During the same period in the prior year, the firm posted $0.73 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, equities research analysts predict that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the sale, the director owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $445.40, for a total value of $26,724,000.00. Following the completion of the sale, the director directly owned 577,031 shares in the company, valued at approximately $257,009,607.40. The trade was a 9.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 145,188 shares of company stock valued at $64,193,919 in the last three months. 19.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Narwhal Capital Management increased its stake in Tesla by 32.8% during the 3rd quarter. Narwhal Capital Management now owns 9,516 shares of the electric vehicle producer’s stock valued at $4,232,000 after buying an additional 2,350 shares during the period. Norges Bank bought a new position in shares of Tesla in the second quarter valued at approximately $11,839,824,000. Police & Firemen s Retirement System of New Jersey increased its stake in shares of Tesla by 5.6% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 427,150 shares of the electric vehicle producer’s stock valued at $135,688,000 after acquiring an additional 22,607 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in Tesla by 8.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 48,504 shares of the electric vehicle producer’s stock worth $21,571,000 after purchasing an additional 3,935 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its position in Tesla by 26.0% in the third quarter. Ashton Thomas Private Wealth LLC now owns 18,032 shares of the electric vehicle producer’s stock worth $8,019,000 after purchasing an additional 3,724 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

Tesla Company Profile

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

Further Reading

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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