Tesla (NASDAQ:TSLA) Given New $235.00 Price Target at Barclays

Tesla (NASDAQ:TSLA) had its price target upped by Barclays from $220.00 to $235.00 in a research note issued to investors on Tuesday, Benzinga reports. Barclays currently has an equal weight rating on the electric vehicle producer’s stock.

Several other analysts also recently commented on TSLA. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and upped their price objective for the company from $147.00 to $197.00 in a report on Friday, July 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Canaccord Genuity Group boosted their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 price target on shares of Tesla in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $219.45.

Tesla Trading Down 1.1 %

NASDAQ:TSLA opened at $259.52 on Tuesday. The company has a market capitalization of $833.07 billion, a P/E ratio of 71.10, a PEG ratio of 7.59 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $232.09 and a 200-day simple moving average of $209.16. Tesla has a 12 month low of $138.80 and a 12 month high of $273.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 earnings per share. On average, equities research analysts anticipate that Tesla will post 1.75 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,297 shares of company stock valued at $3,065,866. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TSLA. Wetzel Investment Advisors Inc. increased its position in shares of Tesla by 12.7% during the 3rd quarter. Wetzel Investment Advisors Inc. now owns 823 shares of the electric vehicle producer’s stock worth $215,000 after purchasing an additional 93 shares during the last quarter. Vestor Capital LLC increased its position in shares of Tesla by 557.5% during the third quarter. Vestor Capital LLC now owns 35,024 shares of the electric vehicle producer’s stock valued at $9,163,000 after acquiring an additional 29,697 shares during the last quarter. Donaldson Capital Management LLC purchased a new stake in shares of Tesla in the 3rd quarter valued at approximately $233,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Tesla by 12.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 817,309 shares of the electric vehicle producer’s stock worth $213,833,000 after acquiring an additional 93,389 shares during the last quarter. Finally, Blue Square Asset Management LLC increased its holdings in Tesla by 9.0% in the 3rd quarter. Blue Square Asset Management LLC now owns 28,527 shares of the electric vehicle producer’s stock valued at $7,464,000 after purchasing an additional 2,350 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other 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.