Tesla (NASDAQ:TSLA) Price Target Cut to $220.00 by Analysts at Barclays

Tesla (NASDAQ:TSLA) had its price objective decreased by Barclays from $225.00 to $220.00 in a report published on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the electric vehicle producer’s stock.

TSLA has been the topic of several other reports. JPMorgan Chase & Co. cut their price target on shares of Tesla from $130.00 to $115.00 and set an underweight rating on the stock in a research report on Wednesday, April 3rd. Robert W. Baird reiterated an outperform rating and issued a $280.00 price target on shares of Tesla in a research note on Tuesday, July 16th. The Goldman Sachs Group decreased their price target on shares of Tesla from $248.00 to $230.00 and set a neutral rating on the stock in a research note on Wednesday, July 24th. Cantor Fitzgerald lowered shares of Tesla from an overweight rating to a neutral rating and increased their target price for the stock from $230.00 to $245.00 in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company reaffirmed an underweight rating and set a $120.00 price target on shares of Tesla in a report on Monday, July 1st. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has an average rating of Hold and an average target price of $204.30.

Tesla Price Performance

TSLA opened at $219.80 on Thursday. Tesla has a 52 week low of $138.80 and a 52 week high of $278.98. The firm has a market capitalization of $702.18 billion, a PE ratio of 56.07, a P/E/G ratio of 5.49 and a beta of 2.31. 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 company has a fifty day moving average price of $205.68 and a two-hundred day moving average price of $190.62.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. As a group, analysts anticipate that Tesla will post 1.79 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TSLA. Norges Bank bought a new stake in Tesla in the fourth quarter worth about $7,844,757,000. International Assets Investment Management LLC increased its stake in shares of Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after purchasing an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. 66.20% of the stock is 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.