Tesla Inc. (NASDAQ:TSLA) Earns Underweight Rating from Barclays PLC

Barclays PLC reissued their underweight rating on shares of Tesla Inc. (NASDAQ:TSLA) in a research note published on Wednesday, September 13th, MarketBeat Ratings reports. The firm currently has a $210.00 target price on the electric vehicle producer’s stock, up from their previous target price of $165.00.

A number of other brokerages have also recently weighed in on TSLA. Vetr cut shares of Tesla from a strong-buy rating to a buy rating and set a $385.74 price target for the company. in a research report on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) reissued a sell rating and issued a $180.00 price target (down from $190.00) on shares of Tesla in a research report on Wednesday, July 5th. Royal Bank Of Canada boosted their price target on shares of Tesla from $314.00 to $345.00 and gave the company a sector perform rating in a research report on Thursday, August 3rd. Guggenheim reissued a buy rating and issued a $430.00 price target on shares of Tesla in a research report on Thursday, August 10th. Finally, Sanford C. Bernstein set a $265.00 price target on shares of Tesla and gave the company a neutral rating in a research report on Thursday, July 27th. Nine analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Tesla currently has a consensus rating of Hold and an average target price of $314.09.

Tesla (NASDAQ TSLA) opened at 375.10 on Wednesday. The firm’s market capitalization is $62.60 billion. The company has a 50 day moving average price of $354.97 and a 200 day moving average price of $325.99. Tesla has a 52-week low of $178.19 and a 52-week high of $389.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the company earned ($1.06) EPS. The company’s revenue for the quarter was up 119.6% on a year-over-year basis. On average, equities analysts forecast that Tesla will post ($6.26) EPS for the current fiscal year.

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In related news, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total transaction of $703,778.40. Following the transaction, the director now owns 160,274 shares of the company’s stock, valued at $51,505,652.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Eric Branderiz sold 99 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total transaction of $34,661.88. The disclosure for this sale can be found here. Insiders have sold 53,946 shares of company stock worth $18,481,047 in the last three months. Insiders own 23.10% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pittenger & Anderson Inc. raised its stake in Tesla by 20.0% during the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after purchasing an additional 50 shares during the period. SRS Capital Advisors Inc. raised its stake in Tesla by 1,213.3% during the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock worth $109,000 after purchasing an additional 364 shares during the period. Winfield Associates Inc. raised its stake in Tesla by 85.2% during the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after purchasing an additional 150 shares during the period. Acropolis Investment Management LLC purchased a new position in Tesla during the second quarter worth approximately $122,000. Finally, North Star Investment Management Corp. raised its stake in Tesla by 2.8% during the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after purchasing an additional 9 shares during the period. 56.63% of the stock is currently owned by institutional investors and hedge funds.

Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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