Tesla (NASDAQ:TSLA) Price Target Raised to $235.00

Tesla (NASDAQ:TSLA - Get Free Report) had its price target raised by Barclays from $220.00 to $235.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an "equal weight" rating on the electric vehicle producer's stock. Barclays's target price would suggest a potential downside of 9.45% from the company's previous close.

Several other research firms also recently weighed in on TSLA. UBS Group downgraded Tesla from a "neutral" rating to a "sell" rating and lifted their price objective for the company from $147.00 to $197.00 in a report on Friday, July 12th. Sanford C. Bernstein reiterated an "underperform" rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Robert W. Baird reissued an "outperform" rating and set a $280.00 price objective on shares of Tesla in a report on Tuesday, August 20th. Bank of America upped their target price on Tesla from $255.00 to $265.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Finally, StockNews.com upgraded Tesla from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Tesla presently has an average rating of "Hold" and a consensus target price of $219.45.

Tesla Trading Down 1.1 %

TSLA traded down $2.99 on Tuesday, reaching $259.52. 80,335,120 shares of the company traded hands, compared to its average volume of 94,677,273. The company has a market cap of $833.07 billion, a P/E ratio of 71.10, a price-to-earnings-growth ratio of 7.59 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla has a one year low of $138.80 and a one year high of $273.54. The firm has a fifty day simple moving average of $231.33 and a two-hundred day simple moving average of $208.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company's revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts expect that Tesla will post 1.75 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. TrueWealth Advisors LLC grew its position in shares of Tesla by 7.4% in the third quarter. TrueWealth Advisors LLC now owns 4,926 shares of the electric vehicle producer's stock valued at $1,289,000 after purchasing an additional 338 shares during the period. RWQ Financial Management Services Inc. boosted its holdings in Tesla by 5,030.3% in the 3rd quarter. RWQ Financial Management Services Inc. now owns 80,699 shares of the electric vehicle producer's stock worth $21,113,000 after buying an additional 79,126 shares during the last quarter. Angeles Wealth Management LLC increased its stake in Tesla by 20.7% during the 3rd quarter. Angeles Wealth Management LLC now owns 8,794 shares of the electric vehicle producer's stock worth $2,301,000 after buying an additional 1,506 shares in the last quarter. Prosperitas Financial LLC raised its holdings in shares of Tesla by 12.9% during the third quarter. Prosperitas Financial LLC now owns 2,782 shares of the electric vehicle producer's stock valued at $728,000 after acquiring an additional 318 shares during the last quarter. Finally, GFS Advisors LLC lifted its position in shares of Tesla by 74,398.6% in the third quarter. GFS Advisors LLC now owns 52,894 shares of the electric vehicle producer's stock valued at $13,839,000 after acquiring an additional 52,823 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.