Tesla (NASDAQ:TSLA) Price Target Raised to $400.00

Tesla (NASDAQ:TSLA) had its price target increased by Bank of America from $350.00 to $400.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the electric vehicle producer’s stock.

Several other brokerages have also weighed in on TSLA. Royal Bank of Canada increased their target price on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. UBS Group increased their price objective on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research report on Monday, November 25th. HSBC reissued a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. The Goldman Sachs Group raised their price target on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Barclays boosted their price objective on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Nine investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $245.84.

Tesla Stock Up 5.3 %

TSLA stock opened at $389.22 on Thursday. Tesla has a one year low of $138.80 and a one year high of $389.49. The firm has a market cap of $1.25 trillion, a PE ratio of 106.64, a PEG ratio of 11.62 and a beta of 2.36. The firm’s 50 day moving average price is $285.53 and its 200-day moving average price is $238.74. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last posted its earnings results 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 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 in the previous year, the business earned $0.53 earnings per share. On average, equities research analysts anticipate that Tesla will post 1.99 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 520,280 shares of company stock valued at $170,418,640. 20.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tesla

A number of hedge funds and other institutional investors have recently made changes to their positions in TSLA. International Assets Investment Management LLC grew its stake in shares of Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP grew its position in Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after acquiring an additional 2,511,488 shares during the period. Hedge funds and other institutional investors 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.