Tesla (NASDAQ:TSLA) Lifted to Outperform at KGI Securities

KGI Securities upgraded shares of Tesla (NASDAQ:TSLA) from a neutral rating to an outperform rating in a research note published on Thursday, Benzinga reports. They currently have $276.00 price target on the electric vehicle producer’s stock.

Several other research analysts have also recently issued reports on the company. The Goldman Sachs Group increased their price objective on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday. Argus restated a “buy” rating and set a $286.00 price target on shares of Tesla in a research note on Friday, July 26th. JPMorgan Chase & Co. upped their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research report on Friday, July 5th. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research report on Friday, October 11th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $218.18.

Tesla Stock Up 21.9 %

NASDAQ:TSLA opened at $260.48 on Thursday. The company has a market cap of $832.14 billion, a price-to-earnings ratio of 73.17, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. Tesla has a twelve month low of $138.80 and a twelve month high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $228.54 and a 200-day simple moving average of $206.41.

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

Insider Activity

In related news, 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 completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated 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 $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred 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 owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Institutional investors have recently made changes to their positions in the company. Bank & Trust Co purchased a new position in Tesla in the second quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the 2nd quarter valued at about $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 valued at $26,000 after purchasing an additional 81 shares in the last quarter. Clean Yield Group boosted its position in Tesla by 60.0% during the third 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. Finally, M&R Capital Management Inc. grew its holdings in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. 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.