Barclays Lowers Tesla (NASDAQ:TSLA) Price Target to $220.00

Tesla (NASDAQ:TSLA) had its price target cut by research analysts at Barclays from $225.00 to $220.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the electric vehicle producer’s stock. Barclays‘s price target points to a potential upside of 0.09% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Cantor Fitzgerald downgraded Tesla from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $230.00 to $245.00 in a research report on Wednesday. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research report on Wednesday. Jefferies Financial Group dropped their price target on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. JPMorgan Chase & Co. decreased their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 3rd. Finally, Truist Financial lifted their price objective on Tesla from $162.00 to $215.00 and gave the company a “hold” rating in a research note on Wednesday. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $204.30.

Tesla Stock Performance

Shares of Tesla stock opened at $219.80 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.17 and a current ratio of 1.91. The business’s 50 day moving average price is $205.68 and its 200 day moving average price is $191.23. The company has a market cap of $700.99 billion, a price-to-earnings ratio of 56.07, a PEG ratio of 5.39 and a beta of 2.31. Tesla has a one year low of $138.80 and a one year high of $278.98.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the firm posted $0.78 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. On average, research analysts predict that Tesla will post 1.85 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Institutional investors have recently made changes to their positions in the stock. Apexium Financial LP boosted its position in Tesla by 736.8% during the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after acquiring an additional 21,972 shares during the last quarter. Mount Vernon Associates Inc. MD grew its holdings in Tesla by 5.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after buying an additional 350 shares during the period. Forum Financial Management LP increased its stake in shares of Tesla by 19.7% during the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after acquiring an additional 3,582 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in Tesla by 16.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after purchasing an additional 6,615 shares during the period. Finally, Catalyst Financial Partners LLC raised its stake in Tesla by 9.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock worth $1,734,000 after purchasing an additional 598 shares during the period. 66.20% of the stock is 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.