Tesla (NASDAQ:TSLA) Given New $180.00 Price Target at TD Cowen

Tesla (NASDAQ:TSLA) had its target price upped by TD Cowen from $160.00 to $180.00 in a report issued on Wednesday morning, Benzinga reports. TD Cowen currently has a hold rating on the electric vehicle producer’s stock.

Several other brokerages have also recently weighed in on TSLA. Robert W. Baird restated an outperform rating and issued a $280.00 price objective on shares of Tesla in a report on Wednesday, April 17th. UBS Group decreased their price objective on Tesla from $160.00 to $147.00 and set a neutral rating for the company in a report on Wednesday, April 24th. Royal Bank of Canada decreased their price objective on Tesla from $293.00 to $227.00 and set an outperform rating for the company in a report on Thursday, June 20th. Canaccord Genuity Group lifted their price target on Tesla from $222.00 to $254.00 and gave the stock a buy rating in a report on Wednesday. Finally, Wells Fargo & Company reiterated an underweight rating and set a $120.00 price target on shares of Tesla in a report on Monday. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of Hold and a consensus target price of $189.47.

Tesla Stock Performance

TSLA opened at $246.39 on Wednesday. The business’s 50-day moving average price is $180.89 and its two-hundred day moving average price is $190.93. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29. The company has a market capitalization of $785.79 billion, a price-to-earnings ratio of 62.85, a P/E/G ratio of 4.91 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Equities analysts expect that Tesla will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds have recently added to or reduced their stakes in TSLA. Wyrmwood Management LLC acquired a new position in shares of Tesla during the fourth quarter worth $25,000. Lam Group Inc. acquired a new position in shares of Tesla during the fourth quarter worth $25,000. Mendota Financial Group LLC lifted its holdings in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. OLD Point Trust & Financial Services N A bought a new position in Tesla during the fourth quarter worth $37,000. Finally, Kathleen S. Wright Associates Inc. raised its stake in Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.