UBS Group Increases Tesla (NASDAQ:TSLA) Price Target to $226.00

Tesla (NASDAQ:TSLA) had its price target increased by UBS Group from $197.00 to $226.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “sell” rating on the electric vehicle producer’s stock. UBS Group’s price target points to a potential downside of 33.18% from the stock’s current price.

TSLA has been the topic of a number of other research reports. Barclays boosted 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. Canaccord Genuity Group boosted 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. Canaccord Genuity Group boosted 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. Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Finally, HSBC restated a “reduce” rating and set a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $231.06.

Tesla Trading Down 0.1 %

NASDAQ TSLA opened at $338.23 on Monday. The stock’s 50-day simple moving average is $268.52 and its two-hundred day simple moving average is $229.16. Tesla has a twelve month low of $138.80 and a twelve month high of $361.93. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 92.67, a PEG ratio of 11.45 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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 company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.53 earnings per share. Research analysts forecast that Tesla will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on 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 approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock worth $92,956,692 in the last three months. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Hedge funds have recently added to or reduced their stakes in the stock. Bank & Trust Co purchased a new stake in Tesla during the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla in the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC increased its stake in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the 3rd quarter worth $29,000. Finally, Clean Yield Group increased its stake 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 purchasing an additional 48 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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.