Barclays Trims Tesla (NASDAQ:TSLA) Target Price to $180.00

Tesla (NASDAQ:TSLA) had its price target cut by Barclays from $225.00 to $180.00 in a report released on Wednesday, MarketBeat reports. They currently have an equal weight rating on the electric vehicle producer’s stock.

TSLA has been the subject of several other research reports. Wedbush dropped their target price on Tesla from $315.00 to $300.00 and set an outperform rating for the company in a research report on Thursday, March 28th. Canaccord Genuity Group dropped their target price on Tesla from $267.00 to $234.00 and set a buy rating for the company in a research report on Thursday, January 25th. China Renaissance assumed coverage on Tesla in a research report on Monday, February 26th. They set a hold rating for the company. Royal Bank of Canada restated an outperform rating and set a $298.00 target price on shares of Tesla in a research report on Wednesday, March 27th. Finally, Oppenheimer restated a market perform rating on shares of Tesla in a research report on Tuesday, April 2nd. Ten research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $194.70.

Tesla Trading Down 1.9 %

Shares of NASDAQ TSLA opened at $147.05 on Wednesday. The business’s 50 day moving average is $178.51 and its two-hundred day moving average is $211.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. Tesla has a 1-year low of $146.22 and a 1-year high of $299.29. The stock has a market capitalization of $468.32 billion, a P/E ratio of 34.12, a PEG ratio of 4.11 and a beta of 2.39.

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

Insider Transactions at Tesla

In other 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 directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other 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 directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently made changes to their positions in the company. Wyrmwood Management LLC purchased a new stake in Tesla in the fourth quarter valued at $25,000. Lam Group Inc. purchased a new stake in Tesla in the fourth quarter valued at $25,000. Alpha Paradigm Partners LLC purchased a new stake in Tesla in the third quarter valued at $27,000. MayTech Global Investments LLC purchased a new stake in Tesla in the fourth quarter valued at $30,000. Finally, Perkins Coie Trust Co boosted its stake in shares of Tesla by 72.0% during the 3rd quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 54 shares in the last quarter. 66.20% of the stock is 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.