Tesla (NASDAQ:TSLA) Price Target Raised to $135.00

Tesla (NASDAQ:TSLA) had its price objective lifted by JPMorgan Chase & Co. from $130.00 to $135.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an underweight rating on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Jefferies Financial Group upped 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. Canaccord Genuity Group raised their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday. Finally, KGI Securities reaffirmed a “neutral” rating and issued a $236.00 price objective on shares of Tesla in a research note on Thursday, July 25th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $219.00.

Tesla Price Performance

Shares of TSLA stock opened at $269.19 on Thursday. The stock has a 50 day moving average price of $230.53 and a 200 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 quick ratio of 1.40 and a current ratio of 1.91. 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.

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

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, 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 sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new position in Tesla during the first quarter valued at approximately $79,000. Wealthcare Advisory Partners LLC increased its holdings in shares of Tesla by 3.5% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 14,655 shares of the electric vehicle producer’s stock valued at $2,576,000 after purchasing an additional 501 shares in the last quarter. Register Financial Advisors LLC lifted its stake in shares of Tesla by 32.7% in the 1st 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 during the period. Kathmere Capital Management LLC boosted its holdings in Tesla by 9.2% during the first quarter. Kathmere Capital Management LLC now owns 1,177 shares of the electric vehicle producer’s stock worth $207,000 after buying an additional 99 shares in the last quarter. Finally, Astoria Portfolio Advisors LLC. grew its position in Tesla by 4.3% during the first quarter. Astoria Portfolio Advisors LLC. now owns 1,613 shares of the electric vehicle producer’s stock valued at $260,000 after buying an additional 67 shares during the period. Hedge funds and other 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.