Robert W. Baird Issues Pessimistic Forecast for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA) had its price objective decreased by Robert W. Baird from $480.00 to $440.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the electric vehicle producer’s stock. Robert W. Baird’s target price would indicate a potential upside of 8.75% from the stock’s current price.

TSLA has been the topic of a number of other reports. Canaccord Genuity Group raised their price objective on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Piper Sandler lifted their target price on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research report on Monday, January 6th. Nine research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $318.31.

Tesla Stock Performance

TSLA stock opened at $404.60 on Thursday. Tesla has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.30 trillion, a PE ratio of 198.33, a P/E/G ratio of 8.08 and a beta of 2.30. The business’s 50-day moving average price is $403.18 and its two-hundred day moving average price is $297.99.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.54%. As a group, research analysts forecast that Tesla will post 2.82 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 553,386 shares of company stock worth $196,305,796 in the last ninety days. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

A number of large investors have recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC acquired a new stake in shares of Tesla during the 3rd quarter worth $29,000. Clean Yield Group lifted its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Peterson Financial Group Inc. acquired a new stake in Tesla during the third quarter worth about $35,000. M&R Capital Management Inc. increased its holdings in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Company Profile

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.