Tesla (NASDAQ:TSLA) Price Target Increased to $235.00 by Analysts at Barclays

Tesla (NASDAQ:TSLA) had its price target lifted by stock analysts at Barclays from $220.00 to $235.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the electric vehicle producer’s stock. Barclays‘s target price indicates a potential downside of 10.48% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Canaccord Genuity Group increased their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Truist Financial boosted their price target on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $219.45.

Tesla Stock Performance

Shares of TSLA opened at $262.51 on Tuesday. Tesla has a 12-month low of $138.80 and a 12-month high of $273.54. The stock has a market capitalization of $842.67 billion, a P/E ratio of 71.92, a P/E/G ratio of 7.59 and a beta of 2.29. The firm’s 50 day moving average is $231.33 and its 200-day moving average is $208.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. Equities research analysts anticipate that Tesla will post 1.75 EPS for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,297 shares of company stock worth $3,065,866. Company insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC raised its holdings in shares of Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after buying an additional 135,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Tesla by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after buying an additional 412,872 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.