Tesla (NASDAQ:TSLA) Price Target Raised to $370.00 at Barclays

Tesla (NASDAQ:TSLAGet Free Report) had its target price increased by research analysts at Barclays from $360.00 to $370.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the electric vehicle producer’s stock. Barclays‘s price objective indicates a potential downside of 6.27% from the company’s previous close.

TSLA has been the topic of several other reports. BNP Paribas Exane lowered shares of Tesla from a “hold” rating to an “underperform” rating in a report on Friday, June 5th. UBS Group raised their target price on shares of Tesla from $364.00 to $442.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Phillip Securities decreased their target price on shares of Tesla from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Wednesday, May 13th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Thursday, June 11th. Finally, William Blair reissued a “market perform” rating on shares of Tesla in a research note on Thursday, July 2nd. Twenty-one analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $408.07.

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Tesla Price Performance

Shares of Tesla stock opened at $394.76 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 362.17, a price-to-earnings-growth ratio of 14.93 and a beta of 1.80. The company has a 50-day simple moving average of $410.72 and a two-hundred day simple moving average of $408.03. Tesla has a twelve month low of $297.82 and a twelve month high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The business had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Tesla’s revenue for the quarter was up 15.8% compared to the same quarter last year. Analysts forecast that Tesla will post 1.3 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the sale, the director owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the sale, the chief financial officer owned 22,039 shares of the company’s stock, valued at approximately $8,864,085.80. The trade was a 10.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 32,015 shares of company stock valued at $12,383,640. 19.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently made changes to their positions in the business. Networth Advisors LLC acquired a new stake in Tesla in the fourth quarter worth $26,000. Chapman Financial Group LLC bought a new position in shares of Tesla during the 2nd quarter worth about $26,000. Davidson Capital Management Inc. grew its stake in shares of Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 27 shares during the period. Friedenthal Financial increased its position in Tesla by 66.7% in the 1st quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 30 shares in the last quarter. Finally, Prism Advisors Inc. acquired a new position in Tesla during the 4th quarter worth approximately $30,000. Institutional investors own 66.20% of the company’s stock.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

Tesla Company Profile

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean?energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery?electric vehicles and related services.

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