Tesla (NASDAQ:TSLA) Given New $240.00 Price Target at Morgan Stanley

Tesla (NASDAQ:TSLA) had its price objective reduced by research analysts at Morgan Stanley from $260.00 to $240.00 in a research report issued on Monday, April 8th, The Fly reports. The brokerage presently has an “equal weight” rating on the electric vehicle producer’s stock. Morgan Stanley’s price objective would indicate a potential downside of 5.89% from the company’s previous close.

TSLA has been the subject of a number of other research reports. Goldman Sachs Group reissued a “sell” rating and set a $210.00 target price on shares of Tesla in a research report on Friday, March 1st. Sanford C. Bernstein reissued a “neutral” rating and set a $325.00 target price on shares of Tesla in a research report on Friday, March 29th. JMP Securities dropped their target price on shares of Tesla from $406.00 to $394.00 and set an “outperform” rating for the company in a research report on Monday, March 25th. Cowen set a $170.00 target price on shares of Tesla and gave the stock a “sell” rating in a research report on Thursday, April 4th. Finally, Barclays reissued a “sell” rating and set a $192.00 target price on shares of Tesla in a research report on Tuesday, March 19th. Seventeen analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. Tesla presently has a consensus rating of “Hold” and an average target price of $305.24.

NASDAQ:TSLA traded up $10.93 on Monday, reaching $255.03. The stock had a trading volume of 23,105,240 shares, compared to its average volume of 9,420,416. The firm has a market cap of $44.30 billion, a price-to-earnings ratio of -44.59 and a beta of 0.27. The company has a current ratio of 0.83, a quick ratio of 0.52 and a debt-to-equity ratio of 1.79. Tesla has a 12-month low of $231.13 and a 12-month high of $387.46.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, April 24th. The electric vehicle producer reported ($4.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.51) by ($1.59). The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Tesla had a negative net margin of 4.29% and a negative return on equity of 18.23%. Tesla’s revenue for the quarter was up 33.2% on a year-over-year basis. During the same quarter last year, the company posted ($3.35) earnings per share. On average, equities research analysts forecast that Tesla will post -3.99 earnings per share for the current fiscal year.

In other news, Director Antonio J. Gracias sold 16,780 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $275.92, for a total transaction of $4,629,937.60. Following the transaction, the director now directly owns 8,728 shares of the company’s stock, valued at $2,408,229.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey B. Straubel sold 15,000 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $239.08, for a total value of $3,586,200.00. Following the transaction, the insider now directly owns 321,398 shares in the company, valued at $76,839,833.84. The disclosure for this sale can be found here. Insiders sold 97,040 shares of company stock worth $27,451,754 over the last quarter. 22.80% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Vista Capital Partners Inc. acquired a new position in Tesla during the fourth quarter worth about $241,000. Strategic Wealth Management Group LLC acquired a new position in Tesla during the fourth quarter worth about $224,000. Daiwa SB Investments Ltd. grew its holdings in Tesla by 7.0% during the fourth quarter. Daiwa SB Investments Ltd. now owns 19,207 shares of the electric vehicle producer’s stock worth $6,392,000 after acquiring an additional 1,250 shares during the period. Berkshire Capital Holdings Inc. grew its holdings in Tesla by 371,900.0% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 18,600 shares of the electric vehicle producer’s stock worth $6,190,000 after acquiring an additional 18,595 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Tesla by 15.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 15,190 shares of the electric vehicle producer’s stock worth $5,055,000 after acquiring an additional 1,990 shares during the period. 59.58% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

Read More: How does the Federal Reserve determine interest rates?

The Fly

Analyst Recommendations for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.