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

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

Several other equities research analysts have also recently weighed in on the company. Daiwa Capital Markets cut Tesla from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $245.00 to $195.00 in a research note on Tuesday, February 6th. Canaccord Genuity Group decreased their target price on Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Royal Bank of Canada restated an “outperform” rating and set a $298.00 target price on shares of Tesla in a research note on Wednesday, March 27th. HSBC decreased their target price on Tesla from $143.00 to $138.00 and set a “reduce” rating for the company in a research note on Wednesday, April 3rd. Finally, Piper Sandler reduced their price objective on Tesla from $225.00 to $205.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $194.70.

Tesla Stock Performance

Shares of TSLA opened at $149.93 on Wednesday. The stock has a 50-day simple moving average of $179.45 and a 200-day simple moving average of $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. The stock has a market capitalization of $477.50 billion, a PE ratio of 34.79, a PEG ratio of 4.15 and a beta of 2.39. Tesla has a 1 year low of $148.70 and a 1 year high of $299.29.

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

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was 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 of the company’s stock, valued at $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was 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 disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 over the last quarter. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors have recently bought and sold shares of the company. Integrity Wealth Solutions LLC boosted its position in 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 purchasing an additional 341 shares in the last quarter. SeaCrest Wealth Management LLC boosted its position in 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 purchasing an additional 662 shares in the last quarter. Oxinas Partners Wealth Management LLC lifted its position in shares of Tesla by 12.5% in the first quarter. Oxinas Partners Wealth Management LLC now owns 14,823 shares of the electric vehicle producer’s stock valued at $2,606,000 after acquiring an additional 1,649 shares in the last quarter. Naviter Wealth LLC lifted its position in shares of Tesla by 45.5% in the first quarter. Naviter Wealth LLC now owns 18,671 shares of the electric vehicle producer’s stock valued at $3,282,000 after acquiring an additional 5,840 shares in the last quarter. Finally, Myecfo LLC lifted its position 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 acquiring an additional 1,061 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other 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.