Tesla (NASDAQ:TSLA) Price Target Raised to $175.00

Tesla (NASDAQ:TSLA) had its target price hoisted by Guggenheim from $156.00 to $175.00 in a research report report published on Thursday,Benzinga reports. They currently have a sell rating on the electric vehicle producer’s stock.

TSLA has been the topic of several other reports. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Glj Research reiterated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Royal Bank of Canada increased their price objective on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. UBS Group lifted their target price on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research note on Monday, November 25th. Finally, Canaccord Genuity Group increased their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $245.84.

Tesla Stock Performance

TSLA opened at $389.22 on Thursday. 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 fifty-two week low of $138.80 and a fifty-two week high of $389.49. The firm has a market cap of $1.25 trillion, a PE ratio of 106.64, a P/E/G ratio of 11.62 and a beta of 2.36. The business has a fifty day simple moving average of $285.53 and a 200-day simple moving average of $238.74.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. As a group, equities analysts predict that Tesla will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 520,280 shares of company stock worth $170,418,640 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several large investors have recently bought and sold shares of the stock. Valley Wealth Managers Inc. acquired a new position in shares of Tesla during the second quarter valued at about $26,000. Abich Financial Wealth Management LLC increased its stake in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter valued at approximately $29,000. Clean Yield Group lifted its position in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Tesla during the 3rd quarter worth approximately $35,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.