Tesla (NASDAQ:TSLA) Price Target Lowered to $275.00 at Barclays

Tesla (NASDAQ:TSLA) had its price objective reduced by Barclays from $325.00 to $275.00 in a research report released on Monday morning, Marketbeat reports. Barclays currently has an equal weight rating on the electric vehicle producer’s stock.

A number of other equities analysts have also recently weighed in on TSLA. Bank of America reduced their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Piper Sandler cut their price objective on Tesla from $450.00 to $400.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. HSBC decreased their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday, March 27th. The Goldman Sachs Group decreased their price objective on Tesla from $320.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Finally, Guggenheim dropped their target price on shares of Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a report on Wednesday, March 12th. Nine investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $290.66.

Tesla Trading Down 5.7 %

Tesla stock opened at $227.50 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market cap of $731.76 billion, a PE ratio of 111.52, a P/E/G ratio of 5.86 and a beta of 2.58. The stock’s 50 day simple moving average is $271.75 and its two-hundred day simple moving average is $323.14. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results 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 return on equity of 10.31% and a net margin of 7.26%. Analysts anticipate that Tesla will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock valued at $123,791,123 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently bought and sold shares of the business. Destination Wealth Management raised its position in shares of Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after acquiring an additional 1,359 shares in the last quarter. Stephens Consulting LLC increased its stake in Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after purchasing an additional 891 shares during the last quarter. Worth Asset Management LLC lifted its position in shares of Tesla by 383.1% during the 4th quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer’s stock worth $3,358,000 after buying an additional 6,593 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. boosted its holdings in shares of Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after buying an additional 1,629 shares in the last quarter. Finally, Ameritas Advisory Services LLC grew its position in shares of Tesla by 104.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock valued at $23,242,000 after buying an additional 29,458 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

About Tesla

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.