Tesla (NASDAQ:TSLA) Price Target Increased to $300.00 by Analysts at Piper Sandler

Tesla (NASDAQ:TSLA) had its price target lifted by Piper Sandler from $205.00 to $300.00 in a report published on Wednesday morning, MarketBeat reports. Piper Sandler currently has an overweight rating on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other reports. Barclays upped their target price on shares of Tesla from $180.00 to $225.00 and gave the stock an equal weight rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Tesla from $123.00 to $136.00 and gave the stock a hold rating in a research note on Thursday, April 25th. The Goldman Sachs Group upped their target price on shares of Tesla from $175.00 to $248.00 and gave the stock a neutral rating in a research note on Wednesday, July 10th. Morgan Stanley reaffirmed an overweight rating and issued a $310.00 target price on shares of Tesla in a research note on Thursday, July 18th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Tesla in a research note on Wednesday, April 24th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of Hold and a consensus target price of $204.30.

Tesla Trading Down 0.2 %

Shares of NASDAQ TSLA opened at $219.80 on Wednesday. The company’s fifty day moving average is $205.68 and its 200-day moving average is $191.23. The stock has a market cap of $702.18 billion, a price-to-earnings ratio of 56.07, a P/E/G ratio of 5.50 and a beta of 2.31. Tesla has a twelve month low of $138.80 and a twelve month high of $278.98. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 earnings per share. Equities research analysts predict that Tesla will post 1.85 EPS for the current year.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Several institutional investors and hedge funds have recently made changes to their positions in the company. Integris Wealth Management LLC raised its holdings in Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares in the last quarter. Echo Wealth Management LLC increased its holdings in Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after buying an additional 44 shares during the period. WASHINGTON TRUST Co increased its holdings in Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after buying an additional 45 shares during the period. Cypress Capital Group grew its stake in shares of Tesla by 1.7% during the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after purchasing an additional 47 shares during the period. Finally, Patten & Patten Inc. TN grew its stake in shares of Tesla by 1.1% during the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after purchasing an additional 48 shares during the period. 66.20% of the stock is currently owned by 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.