Tesla (NASDAQ:TSLA) Given New $130.00 Price Target at Wells Fargo & Company

Tesla (NASDAQ:TSLA) had its target price decreased by equities research analysts at Wells Fargo & Company from $135.00 to $130.00 in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm currently has an “underweight” rating on the electric vehicle producer’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 48.00% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Glj Research reiterated a “buy” rating on shares of Tesla in a research report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Guggenheim dropped their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday. Nine analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $325.65.

Tesla Price Performance

Tesla stock opened at $249.98 on Friday. Tesla has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business has a fifty day moving average of $351.31 and a two-hundred day moving average of $319.51. The company has a market cap of $804.06 billion, a P/E ratio of 122.54, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, analysts predict that Tesla will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by company insiders.

Institutional Trading of Tesla

Several institutional investors have recently modified their holdings of TSLA. Swedbank AB lifted its holdings in shares of Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after buying an additional 29,669 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares during the last quarter. United Bank purchased a new stake in shares of Tesla during the third quarter valued at $287,000. Haverford Trust Co lifted its holdings in shares of Tesla by 37.2% during the third quarter. Haverford Trust Co now owns 2,268 shares of the electric vehicle producer’s stock valued at $593,000 after purchasing an additional 615 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its holdings in shares of Tesla by 24.6% during the third quarter. Zions Bancorporation N.A. now owns 8,682 shares of the electric vehicle producer’s stock valued at $2,271,000 after purchasing an additional 1,715 shares during 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.