Wedbush Reaffirms Outperform Rating for Tesla (NASDAQ:TSLA)

Wedbush reissued their outperform rating on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $300.00 price objective on the electric vehicle producer’s stock.

A number of other equities research analysts also recently issued reports on the company. Truist Financial increased their price objective on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research report on Thursday. Piper Sandler boosted their price objective on Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Wells Fargo & Company raised their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday. Morgan Stanley reissued an “overweight” rating and issued a $310.00 price target on shares of Tesla in a report on Thursday, October 3rd. Finally, TD Cowen lifted their price objective on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $219.00.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $269.19 on Thursday. 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 has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The stock has a market cap of $858.50 billion, a PE ratio of 68.67, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The stock has a fifty day moving average of $230.53 and a 200-day moving average of $207.45.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Tesla will post 1.75 earnings per share for the current year.

Insider Activity at Tesla

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 transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, 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 value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was 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

Large investors have recently bought and sold shares of the business. Financial Advocates Investment Management increased its stake in shares of Tesla by 1.8% during the third quarter. Financial Advocates Investment Management now owns 53,003 shares of the electric vehicle producer’s stock valued at $13,867,000 after purchasing an additional 952 shares in the last quarter. S.A. Mason LLC boosted 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 purchasing an additional 82 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. grew its stake 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 buying an additional 142 shares during the last quarter. Oak Harvest Investment Services bought a new position in Tesla during the 3rd quarter valued at approximately $319,000. Finally, Burr Financial Services LLC purchased a new position in Tesla during the third quarter valued at $9,892,000. 66.20% of the stock is owned by hedge funds and other 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.