Tesla (NASDAQ:TSLA) PT Raised to $249.00 at Royal Bank of Canada

Tesla (NASDAQ:TSLA) had its target price increased by investment analysts at Royal Bank of Canada from $236.00 to $249.00 in a report released on Thursday, Marketbeat reports. The brokerage currently has an “outperform” rating on the electric vehicle producer’s stock. Royal Bank of Canada’s price objective would indicate a potential downside of 7.50% from the stock’s previous close.

A number of other research firms have also recently weighed in on TSLA. The Goldman Sachs Group restated a “neutral” rating and issued a $230.00 price target on shares of Tesla in a research note on Friday, October 11th. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Citigroup dropped their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Finally, New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $219.00.

Tesla Stock Performance

Shares of TSLA opened at $269.19 on Thursday. The stock has a 50-day simple moving average of $229.47 and a 200-day simple moving average of $206.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla has a 1 year low of $138.80 and a 1 year high of $271.00. The stock has a market capitalization of $859.97 billion, a PE ratio of 74.97, a PEG ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the business posted $0.53 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. On average, analysts predict that Tesla will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 20.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. Future Financial Wealth Managment LLC purchased a new stake in shares of Tesla in the 1st quarter worth about $79,000. Wealthcare Advisory Partners LLC raised its position in Tesla by 3.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 14,655 shares of the electric vehicle producer’s stock worth $2,576,000 after acquiring an additional 501 shares during the last quarter. Register Financial Advisors LLC lifted its holdings in shares of Tesla by 32.7% in the first quarter. Register Financial Advisors LLC now owns 1,677 shares of the electric vehicle producer’s stock valued at $295,000 after purchasing an additional 413 shares in the last quarter. Kathmere Capital Management LLC grew its position in shares of Tesla by 9.2% in the first quarter. Kathmere Capital Management LLC now owns 1,177 shares of the electric vehicle producer’s stock valued at $207,000 after purchasing an additional 99 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. increased its stake in shares of Tesla by 4.3% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 1,613 shares of the electric vehicle producer’s stock worth $260,000 after purchasing an additional 67 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.