Tesla (NASDAQ:TSLA) Price Target Cut to $180.00

Tesla (NASDAQ:TSLA) had its target price decreased by equities research analysts at Barclays from $225.00 to $180.00 in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has an “equal weight” rating on the electric vehicle producer’s stock. Barclays‘s target price would suggest a potential upside of 20.06% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Wedbush dropped their price target on shares of Tesla from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, March 28th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday, April 2nd. Piper Sandler dropped their price target on shares of Tesla from $225.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $298.00 price target on shares of Tesla in a research report on Wednesday, March 27th. Ten analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $194.70.

Tesla Price Performance

Shares of TSLA opened at $149.93 on Wednesday. The firm has a market cap of $477.50 billion, a PE ratio of 34.79, a PEG ratio of 4.15 and a beta of 2.39. The firm’s 50 day moving average price is $179.45 and its 200 day moving average price is $212.21. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla has a twelve month low of $148.70 and a twelve month high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS. As a group, research analysts expect that Tesla will post 1.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 over the last 90 days. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Several hedge funds have recently modified their holdings of the company. Integrity Wealth Solutions LLC increased its holdings in shares of Tesla by 3.1% during the first quarter. Integrity Wealth Solutions LLC now owns 11,495 shares of the electric vehicle producer’s stock worth $2,021,000 after buying an additional 341 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in shares of Tesla by 4.3% during the first quarter. SeaCrest Wealth Management LLC now owns 15,941 shares of the electric vehicle producer’s stock worth $2,802,000 after buying an additional 662 shares in the last quarter. Oxinas Partners Wealth Management LLC increased its holdings in shares of Tesla by 12.5% during the first quarter. Oxinas Partners Wealth Management LLC now owns 14,823 shares of the electric vehicle producer’s stock worth $2,606,000 after buying an additional 1,649 shares in the last quarter. Naviter Wealth LLC increased its holdings in shares of Tesla by 45.5% during the first quarter. Naviter Wealth LLC now owns 18,671 shares of the electric vehicle producer’s stock worth $3,282,000 after buying an additional 5,840 shares in the last quarter. Finally, Myecfo LLC increased its holdings in shares of Tesla by 64.5% in the first quarter. Myecfo LLC now owns 2,706 shares of the electric vehicle producer’s stock valued at $476,000 after purchasing an additional 1,061 shares in the last quarter. 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.