Wells Fargo & Company Boosts Tesla (NASDAQ:TSLA) Price Target to $125.00

Tesla (NASDAQ:TSLA) had its price objective hoisted by Wells Fargo & Company from $120.00 to $125.00 in a research report report published on Thursday morning, Marketbeat reports. They currently have an underweight rating on the electric vehicle producer’s stock.

Several other research analysts also recently weighed in on TSLA. Morgan Stanley reissued an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Wedbush reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Finally, The Goldman Sachs Group lifted their target price on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $219.00.

Tesla Price Performance

NASDAQ TSLA opened at $269.19 on Thursday. Tesla has a 1 year low of $138.80 and a 1 year high of $271.00. The business’s fifty day moving average is $230.53 and its two-hundred day moving average is $207.45. The stock 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 company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

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. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts forecast that Tesla will post 1.75 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was 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 of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TSLA. Financial Advocates Investment Management grew its position in Tesla by 1.8% during the third quarter. Financial Advocates Investment Management now owns 53,003 shares of the electric vehicle producer’s stock worth $13,867,000 after buying an additional 952 shares in the last quarter. S.A. Mason LLC lifted its position in shares of Tesla by 6.8% in the 3rd quarter. S.A. Mason LLC now owns 1,295 shares of the electric vehicle producer’s stock worth $339,000 after acquiring an additional 82 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. lifted its position in shares of Tesla by 2.9% in the 3rd quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 5,042 shares of the electric vehicle producer’s stock worth $1,319,000 after acquiring an additional 142 shares during the period. Oak Harvest Investment Services acquired a new stake in shares of Tesla during the 3rd quarter worth approximately $319,000. Finally, Burr Financial Services LLC bought a new stake in shares of Tesla during the third quarter valued at approximately $9,892,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.