Tesla (NASDAQ:TSLA) Earns “Neutral” Rating from Barclays

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating reiterated by stock analysts at Barclays in a report released on Monday,MarketScreener Latest Ratings reports. They presently have a $350.00 target price on the electric vehicle producer’s stock. Barclays‘s price objective points to a potential downside of 18.46% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Benchmark reaffirmed a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Melius initiated coverage on Tesla in a report on Monday, October 13th. They issued a “buy” rating and a $520.00 price objective for the company. Finally, Mizuho set a $475.00 target price on Tesla and gave the stock an “outperform” rating in a report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $398.92.

Tesla Trading Down 0.2%

Tesla stock opened at $429.24 on Monday. The stock has a 50-day moving average price of $433.94 and a 200 day moving average price of $370.52. The company has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 286.16, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. Tesla has a 52 week low of $214.25 and a 52 week high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same period last year, the firm posted $0.72 EPS. Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts anticipate that Tesla will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 82,606 shares of company stock valued at $33,554,102. 19.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Several large investors have recently bought and sold shares of the company. Chapman Financial Group LLC acquired a new stake in shares of Tesla in the second quarter valued at about $26,000. Chelsea Counsel Co. grew its stake in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. LGT Financial Advisors LLC acquired a new stake in Tesla in the 2nd quarter valued at about $29,000. Manning & Napier Advisors LLC purchased a new position in Tesla in the 3rd quarter worth approximately $29,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla during the 2nd quarter worth approximately $30,000. 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.