Tesla (NASDAQ:TSLA) Price Target Cut to $130.00 by Analysts at Wells Fargo & Company

Tesla (NASDAQ:TSLA - Get Free Report) had its target price dropped by equities research analysts at Wells Fargo & Company from $135.00 to $130.00 in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm currently has an "underweight" rating on the electric vehicle producer's stock. Wells Fargo & Company's target price indicates a potential downside of 47.59% from the stock's current price.

TSLA has been the topic of a number of other research reports. Truist Financial lifted their price target on Tesla from $351.00 to $373.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. dropped their price target on Tesla from $135.00 to $120.00 and set an "underweight" rating on the stock in a research report on Wednesday. UBS Group reduced their price objective on Tesla from $259.00 to $225.00 and set a "sell" rating for the company in a research note on Monday. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Monday, February 10th. Finally, Barclays increased their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 15th. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $325.65.

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Shares of NASDAQ TSLA opened at $248.04 on Friday. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a fifty day moving average price of $354.52 and a 200 day moving average price of $318.49. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $797.83 billion, a P/E ratio of 117.98, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Research analysts anticipate that Tesla will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company's stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Swedbank AB boosted its stake in Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer's stock valued at $287,457,000 after buying an additional 29,669 shares during the period. Principal Financial Group Inc. boosted its position in shares of Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock valued at $955,052,000 after acquiring an additional 194,796 shares during the last quarter. United Bank purchased a new stake in Tesla in the third quarter valued at approximately $287,000. Haverford Trust Co lifted its position in Tesla by 37.2% during the third quarter. Haverford Trust Co now owns 2,268 shares of the electric vehicle producer's stock valued at $593,000 after purchasing an additional 615 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its stake in Tesla by 24.6% in the 3rd quarter. Zions Bancorporation N.A. now owns 8,682 shares of the electric vehicle producer's stock worth $2,271,000 after buying an additional 1,715 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

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.

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