Tesla (NASDAQ:TSLA) Price Target Cut to $220.00

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

A number of other equities analysts have also recently issued reports on TSLA. Citigroup reduced their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday. Mizuho upped their price objective on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday. Glj Research upped their price target on shares of Tesla from $22.86 to $24.86 and gave the company a “sell” rating in a report on Tuesday. Finally, Roth Mkm restated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Wednesday. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $204.30.

Tesla Stock Down 0.2 %

Shares of NASDAQ TSLA opened at $219.80 on Thursday. Tesla has a 12-month low of $138.80 and a 12-month high of $278.98. The firm’s 50-day simple moving average is $205.68 and its 200 day simple moving average is $191.23. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $700.99 billion, a price-to-earnings ratio of 56.07, a price-to-earnings-growth ratio of 5.39 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its earnings results 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 firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $0.78 earnings per share. On average, research analysts expect that Tesla will post 1.85 earnings per share for the current fiscal year.

Insider Transactions at Tesla

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

Institutional Investors Weigh In On Tesla

Several large investors have recently modified their holdings of the company. Apexium Financial LP grew its holdings in Tesla by 736.8% during the 4th 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 period. Mount Vernon Associates Inc. MD lifted its stake in shares of 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 purchasing an additional 350 shares during the period. Forum Financial Management LP boosted its position 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 purchasing an additional 3,582 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in Tesla by 16.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after purchasing an additional 6,615 shares during the period. Finally, Catalyst Financial Partners LLC increased its holdings in Tesla by 9.4% in 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 in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.