Barclays Issues Positive Forecast for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA - Get Free Report) had its price objective lifted by Barclays from $270.00 to $325.00 in a research report issued on Wednesday, Marketbeat Ratings 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 24.10% from the company's previous close.

A number of other research analysts have also weighed in on the stock. Roth Mkm raised shares of Tesla from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. The Goldman Sachs Group boosted their target price on Tesla from $250.00 to $345.00 and gave the stock a "neutral" rating in a report on Wednesday, December 11th. Glj Research reissued a "sell" rating and issued a $24.86 target price on shares of Tesla in a research note on Friday, January 3rd. HSBC reissued a "reduce" rating and issued a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Finally, Guggenheim lifted their price objective on Tesla from $156.00 to $175.00 and gave the company a "sell" rating in a report on Thursday, December 5th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $299.33.

Tesla Trading Up 8.0 %

Shares of NASDAQ:TSLA traded up $31.86 during midday trading on Wednesday, reaching $428.22. The company had a trading volume of 80,788,761 shares, compared to its average volume of 81,605,617. The company has a fifty day simple moving average of $382.71 and a two-hundred day simple moving average of $284.69. Tesla has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 117.32, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. Research analysts predict that Tesla will post 1.99 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company's stock, valued at $391,164,540.60. The trade was a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock worth $213,451,751 in the last ninety days. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

A number of large investors have recently added to or reduced their stakes in the stock. Oak Ridge Investments LLC lifted its position in shares of Tesla by 6.0% during the 4th quarter. Oak Ridge Investments LLC now owns 40,815 shares of the electric vehicle producer's stock valued at $16,483,000 after acquiring an additional 2,312 shares during the period. GenWealth Group Inc. acquired a new position in Tesla in the fourth quarter valued at about $213,000. Aaron Wealth Advisors LLC lifted its position in Tesla by 25.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 13,410 shares of the electric vehicle producer's stock worth $5,415,000 after purchasing an additional 2,680 shares during the period. Whitaker Myers Wealth Managers LTD. lifted its holdings in shares of Tesla by 4.2% during the 4th quarter. Whitaker Myers Wealth Managers LTD. now owns 4,529 shares of the electric vehicle producer's stock worth $1,829,000 after acquiring an additional 183 shares during the period. Finally, BNC Wealth Management LLC raised its position in Tesla by 2.1% during the fourth quarter. BNC Wealth Management LLC now owns 40,946 shares of the electric vehicle producer's stock valued at $16,536,000 after purchasing an additional 843 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

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.