Today, Tesla Motors Inc. (TSLA) Price Target Cut to $242.00

Today, Tesla Motors Inc. (TSLA) Price Target Cut to $242.00

Tesla Motors Inc. (NASDAQ:TSLA) had its target price decreased by Morgan Stanley from $245.00 to $242.00 in a report released on Wednesday morning. Morgan Stanley currently has an equal weight rating on the electric vehicle producer’s stock.

Other analysts have also issued reports about the stock. Robert W. Baird restated a buy rating and set a $338.00 target price on shares of Tesla Motors in a research report on Monday, August 1st. Vetr lowered shares of Tesla Motors from a hold rating to a sell rating and set a $227.49 target price for the company. in a research report on Monday, August 1st. Oppenheimer Holdings Inc. restated a market perform rating on shares of Tesla Motors in a research report on Friday, August 5th. FBN Securities boosted their target price on shares of Tesla Motors from $260.00 to $275.00 and gave the company an outperform rating in a research report on Thursday, August 4th. Finally, Global Equities Research restated an overweight rating and set a $385.00 target price on shares of Tesla Motors in a research report on Tuesday, October 4th. Eight investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $250.47.

Shares of Tesla Motors (NASDAQ:TSLA) opened at 196.12 on Wednesday. The stock’s 50 day moving average is $194.21 and its 200 day moving average is $210.21. The stock’s market cap is $29.40 billion. Tesla Motors has a 52-week low of $141.05 and a 52-week high of $269.34.

Tesla Motors (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 26th. The electric vehicle producer reported $0.71 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.25. Tesla Motors had a negative net margin of 14.74% and a negative return on equity of 29.17%. The firm earned $2.30 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the previous year, the company earned ($0.58) earnings per share. The firm’s quarterly revenue was up 145.3% on a year-over-year basis. Equities research analysts forecast that Tesla Motors will post ($2.04) earnings per share for the current year.

In other Tesla Motors news, Director Kimbal Musk sold 2,779 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $197.60, for a total transaction of $549,130.40. Following the completion of the transaction, the director now directly owns 154,644 shares of the company’s stock, valued at approximately $30,557,654.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey B. Straubel sold 33,430 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $190.82, for a total transaction of $6,379,112.60. Following the transaction, the insider now directly owns 359,655 shares of the company’s stock, valued at $68,629,367.10. The disclosure for this sale can be found here. 27.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. raised its position in Tesla Motors by 9.5% in the second quarter. Baillie Gifford & Co. now owns 13,066,791 shares of the electric vehicle producer’s stock worth $2,773,818,000 after buying an additional 1,137,759 shares in the last quarter. Vanguard Group Inc. raised its position in Tesla Motors by 13.4% in the second quarter. Vanguard Group Inc. now owns 4,894,369 shares of the electric vehicle producer’s stock worth $1,038,976,000 after buying an additional 578,459 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Tesla Motors by 4.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,807,714 shares of the electric vehicle producer’s stock worth $572,858,000 after buying an additional 110,714 shares in the last quarter. Bamco Inc. NY raised its position in Tesla Motors by 7.7% in the third quarter. Bamco Inc. NY now owns 1,555,911 shares of the electric vehicle producer’s stock worth $317,452,000 after buying an additional 111,256 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its position in Tesla Motors by 24.2% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 808,661 shares of the electric vehicle producer’s stock worth $171,663,000 after buying an additional 157,425 shares in the last quarter. 60.93% of the stock is owned by institutional investors.

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