Tesla (NASDAQ:TSLA) Given New $310.00 Price Target at Piper Sandler

Tesla (NASDAQ:TSLA) had its price target increased by Piper Sandler from $300.00 to $310.00 in a research report released on Wednesday, Marketbeat.com reports. They currently have an overweight rating on the electric vehicle producer’s stock.

Other equities analysts have also issued reports about the stock. Morgan Stanley reaffirmed an overweight rating and issued a $310.00 price target on shares of Tesla in a report on Thursday, September 5th. Wedbush reaffirmed an outperform rating and issued a $300.00 price target on shares of Tesla in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed a neutral rating and issued a $245.00 price target on shares of Tesla in a report on Monday, September 23rd. Mizuho lifted their price target on shares of Tesla from $180.00 to $230.00 and gave the stock a neutral rating in a report on Friday, July 12th. Finally, Glj Research reissued a sell rating and set a $24.86 price objective on shares of Tesla in a report on Thursday, September 5th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $209.90.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $260.46 on Wednesday. The company has a market capitalization of $832.08 billion, a price-to-earnings ratio of 66.44, a price-to-earnings-growth ratio of 6.92 and a beta of 2.29. Tesla has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $221.89 and a 200 day moving average of $198.53.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during 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 business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. On average, sell-side analysts predict that Tesla will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,661 shares of company stock worth $16,663,291. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after acquiring an additional 1,125,329 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings 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 acquiring an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC raised its holdings in Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after acquiring an additional 135,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Tesla by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after acquiring an additional 412,872 shares during the last quarter. 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.