Tesla (NASDAQ:TSLA) Price Target Cut to $180.00 by Analysts at Barclays

Tesla (NASDAQ:TSLA) had its price target decreased by stock analysts at Barclays from $225.00 to $180.00 in a report issued on Wednesday, MarketBeat.com reports. The brokerage presently has an “equal weight” rating on the electric vehicle producer’s stock. Barclays‘s price target would suggest a potential upside of 15.12% from the company’s current price.

TSLA has been the topic of a number of other research reports. HSBC cut their target price on Tesla from $143.00 to $138.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 3rd. Edward Jones downgraded Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Piper Sandler dropped their price objective on Tesla from $225.00 to $205.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Citigroup dropped their price objective on Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $298.00 target price on shares of Tesla in a report on Wednesday, March 27th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $197.15.

Tesla Stock Down 0.5 %

TSLA stock traded down $0.75 during mid-day trading on Wednesday, reaching $156.36. 72,971,072 shares of the company traded hands, compared to its average volume of 101,773,016. The stock has a market cap of $497.97 billion, a price-to-earnings ratio of 36.38, a P/E/G ratio of 4.25 and a beta of 2.39. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla has a fifty-two week low of $152.37 and a fifty-two week high of $299.29. The firm’s 50 day moving average price is $180.88 and its 200 day moving average price is $213.04.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. As a group, equities research analysts predict that Tesla will post 1.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction 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 transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is owned by insiders.

Institutional Trading of Tesla

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wyrmwood Management LLC purchased a new position in shares of Tesla during the 4th quarter worth about $25,000. Lam Group Inc. purchased a new stake in shares of Tesla in the 4th quarter worth approximately $25,000. Alpha Paradigm Partners LLC purchased a new stake in shares of Tesla in the 3rd quarter worth approximately $27,000. MayTech Global Investments LLC bought a new position in shares of Tesla during the 4th quarter worth approximately $30,000. Finally, Perkins Coie Trust Co raised its stake in shares of Tesla by 72.0% during the 3rd quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 54 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

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.