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

Tesla (NASDAQ:TSLA) had its target price lowered by stock analysts at Wells Fargo & Company from $135.00 to $130.00 in a research note issued to 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 points to a potential downside of 47.59% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Robert W. Baird lowered their price objective on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Bank of America dropped their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft boosted their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research note on Monday, January 6th. Nine analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $325.65.

Tesla Price Performance

TSLA stock opened at $248.04 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm 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. The firm’s fifty day moving average is $354.52 and its 200 day moving average is $318.49. Tesla has a 52 week low of $138.80 and a 52 week high of $488.54.

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

Insider Transactions at Tesla

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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. World Investment Advisors LLC boosted its stake in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares during the period. Destination Wealth Management lifted its stake in Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Stephens Consulting LLC boosted its position in shares of Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after buying an additional 891 shares during the period. Vinva Investment Management Ltd grew its stake in shares of Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after buying an additional 43,685 shares during the last quarter. Finally, MML Investors Services LLC raised its holdings in shares of Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after buying an additional 9,919 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Company Profile

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.