Tesla (NASDAQ:TSLA) PT Raised to $250.00

Tesla (NASDAQ:TSLA) had its price target hoisted by investment analysts at The Goldman Sachs Group from $230.00 to $250.00 in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has a “neutral” rating on the electric vehicle producer’s stock. The Goldman Sachs Group’s price target indicates a potential downside of 7.13% from the company’s previous close.

A number of other equities analysts also recently issued reports on TSLA. HSBC restated a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. Wells Fargo & Company restated an “underweight” rating and issued a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research note on Friday, October 11th. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research note on Friday, July 5th. Finally, Wedbush reaffirmed an “outperform” rating and set a $300.00 price target on shares of Tesla in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $219.00.

Tesla Trading Up 3.3 %

TSLA opened at $269.19 on Thursday. The company’s 50 day moving average price is $229.47 and its two-hundred day moving average price is $206.79. The firm has a market capitalization of $859.97 billion, a price-to-earnings ratio of 74.97, a PEG ratio of 6.24 and a beta of 2.29. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

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

Insider Activity at Tesla

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

Institutional Trading of Tesla

A number of hedge funds have recently bought and sold shares of TSLA. Bank & Trust Co bought a new stake in shares of Tesla during the 2nd quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla during the second quarter worth about $26,000. Abich Financial Wealth Management LLC raised its position in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Clean Yield Group boosted its stake in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. grew its position in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors.

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.