Tesla (NASDAQ:TSLA) Earns Outperform Rating from Wedbush

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a research note issued on Monday,Benzinga reports. They currently have a $400.00 target price on the electric vehicle producer’s stock. Wedbush’s price objective points to a potential upside of 15.61% from the stock’s previous close.

Several other equities analysts have also recently commented on TSLA. Barclays upped their price target on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Royal Bank of Canada raised their price target on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. lifted their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Canaccord Genuity Group raised their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a research report on Wednesday, October 23rd. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $230.18.

Tesla Stock Performance

TSLA stock opened at $346.00 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla has a 12 month low of $138.80 and a 12 month high of $358.64. The firm has a 50 day moving average of $257.14 and a two-hundred day moving average of $223.29. The company has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 94.79, a P/E/G ratio of 10.42 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued 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 for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $0.53 EPS. As a group, equities analysts anticipate that Tesla will post 1.99 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

Large investors have recently added to or reduced their stakes in the stock. McIlrath & Eck LLC grew its holdings in shares of Tesla by 6.0% during the 3rd quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer’s stock worth $890,000 after acquiring an additional 192 shares during the period. Discipline Wealth Solutions LLC purchased a new position in Tesla during the third quarter valued at $260,000. M&T Bank Corp boosted its holdings in shares of Tesla by 13.3% during the 3rd quarter. M&T Bank Corp now owns 341,442 shares of the electric vehicle producer’s stock valued at $89,332,000 after buying an additional 39,961 shares in the last quarter. Second Line Capital LLC boosted its stake in Tesla by 0.6% during the third quarter. Second Line Capital LLC now owns 7,920 shares of the electric vehicle producer’s stock worth $2,072,000 after acquiring an additional 51 shares in the last quarter. Finally, TCW Group Inc. grew its holdings in Tesla by 88.2% in the third quarter. TCW Group Inc. now owns 209,752 shares of the electric vehicle producer’s stock worth $54,877,000 after purchasing an additional 98,306 shares during the period. Institutional investors 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.