Wells Fargo & Company Lowers Tesla (NASDAQ:TSLA) Price Target to $130.00

Tesla (NASDAQ:TSLAGet Rating) had its price objective decreased by Wells Fargo & Company from $230.00 to $130.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the electric vehicle producer’s stock. Wells Fargo & Company‘s target price points to a potential upside of 6.21% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Cowen reduced their price target on Tesla from $244.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 20th. Truist Financial reduced their price target on Tesla from $348.00 to $299.00 and set a “buy” rating on the stock in a report on Tuesday, January 3rd. Wedbush reduced their target price on Tesla from $250.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, December 23rd. The Goldman Sachs Group reduced their target price on Tesla from $235.00 to $205.00 and set a “buy” rating on the stock in a report on Monday, January 2nd. Finally, Evercore ISI reduced their target price on Tesla from $300.00 to $200.00 and set an “in-line” rating on the stock in a report on Tuesday, December 20th. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $225.95.

Tesla Stock Down 0.9 %

TSLA opened at $122.40 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The company has a market cap of $386.51 billion, a P/E ratio of 37.82, a P/E/G ratio of 0.96 and a beta of 2.02. Tesla has a 12 month low of $101.81 and a 12 month high of $384.29. The business’s 50-day moving average price is $156.91 and its 200-day moving average price is $225.42.

Tesla (NASDAQ:TSLAGet Rating) last announced its quarterly earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The company had revenue of $21.45 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the previous year, the business earned $0.48 EPS. Tesla’s revenue was up 55.9% compared to the same quarter last year. On average, equities analysts expect that Tesla will post 3.6 EPS for the current year.

Insider Transactions at Tesla

In other news, CEO Elon Musk sold 9,650,000 shares of the company’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $208.58, for a total value of $2,012,797,000.00. Following the completion of the sale, the chief executive officer now directly owns 455,467,432 shares in the company, valued at approximately $95,001,396,966.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, CEO Elon Musk sold 9,650,000 shares of the stock in a transaction on Friday, November 4th. The stock was sold at an average price of $208.58, for a total value of $2,012,797,000.00. Following the completion of the sale, the chief executive officer now owns 455,467,432 shares in the company, valued at approximately $95,001,396,966.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total value of $2,414,475.00. Following the completion of the sale, the senior vice president now owns 62,988 shares of the company’s stock, valued at approximately $14,484,090.60. The disclosure for this sale can be found here. Insiders sold 24,172,833 shares of company stock worth $4,492,567,309 in the last three months. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently bought and sold shares of the business. Riggs Asset Managment Co. Inc. increased its stake in Tesla by 0.6% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,761 shares of the electric vehicle producer’s stock worth $1,186,000 after buying an additional 11 shares in the last quarter. Advisor OS LLC lifted its holdings in shares of Tesla by 2.4% in the 2nd quarter. Advisor OS LLC now owns 510 shares of the electric vehicle producer’s stock valued at $344,000 after acquiring an additional 12 shares during the last quarter. Alera Investment Advisors LLC lifted its holdings in shares of Tesla by 1.4% in the 2nd quarter. Alera Investment Advisors LLC now owns 852 shares of the electric vehicle producer’s stock valued at $574,000 after acquiring an additional 12 shares during the last quarter. Stanley Laman Group Ltd. lifted its holdings in shares of Tesla by 4.0% in the 2nd quarter. Stanley Laman Group Ltd. now owns 314 shares of the electric vehicle producer’s stock valued at $211,000 after acquiring an additional 12 shares during the last quarter. Finally, Trust Co. of Toledo NA OH lifted its stake in Tesla by 1.2% in the second quarter. Trust Co. of Toledo NA OH now owns 1,004 shares of the electric vehicle producer’s stock worth $676,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 43.00% of the company’s stock.

Tesla Company Profile

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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.

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