Bank of America Raises Tesla (NASDAQ:TSLA) Price Target to $265.00

Tesla (NASDAQ:TSLA) had its price objective boosted by Bank of America from $255.00 to $265.00 in a research note issued to investors on Thursday, Benzinga reports. Bank of America currently has a buy rating on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other reports. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Jefferies Financial Group increased their target price on Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Royal Bank of Canada lifted their price target on Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a report on Thursday. Wedbush reissued an “outperform” rating and set a $300.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Finally, Wolfe Research began coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $219.00.

Tesla Stock Performance

Tesla stock opened at $269.19 on Thursday. The firm has a market capitalization of $858.50 billion, a P/E ratio of 68.67, a P/E/G ratio of 6.24 and a beta of 2.29. The stock has a fifty day moving average price of $230.53 and a two-hundred day moving average price of $207.45. Tesla has a 52-week low of $138.80 and a 52-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 announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. As a group, analysts anticipate that Tesla will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was 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 in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors have recently modified their holdings of TSLA. Bank & Trust Co acquired a new position in Tesla during the second quarter worth $25,000. Clean Yield Group lifted its position in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC boosted its stake in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the 2nd quarter valued at about $26,000. Finally, M&R Capital Management Inc. increased its position in shares of Tesla by 263.2% in the third 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 last quarter. 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.