Tesla (NASDAQ:TSLA) Price Target Raised to $315.00

Tesla (NASDAQ:TSLA) had its price objective hoisted by investment analysts at Piper Sandler from $310.00 to $315.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the electric vehicle producer’s stock. Piper Sandler’s price target suggests a potential upside of 18.83% from the stock’s previous close.

TSLA has been the subject of a number of other reports. Barclays decreased their target price on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Wolfe Research initiated coverage on Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Robert W. Baird restated an “outperform” rating and set a $280.00 target price on shares of Tesla in a research note on Tuesday, August 20th. Jefferies Financial Group boosted their target price on Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Wedbush reaffirmed an “outperform” rating and set a $300.00 price target on shares of Tesla in a research report on Thursday. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $218.33.

Tesla Trading Up 1.8 %

Shares of TSLA stock traded up $4.61 on Friday, reaching $265.09. 79,649,352 shares of the company’s stock were exchanged, compared to its average volume of 94,288,320. Tesla has a 52 week low of $138.80 and a 52 week 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 market capitalization of $846.87 billion, a PE ratio of 73.87, a P/E/G ratio of 6.24 and a beta of 2.29. The company’s fifty day simple moving average is $228.54 and its 200 day simple moving average is $206.41.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the company earned $0.53 EPS. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts forecast that Tesla will post 1.75 EPS for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred 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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were 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 directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Large investors have recently modified their holdings of the stock. Bank & Trust Co purchased a new stake in shares of Tesla during the second quarter worth $25,000. Clean Yield Group grew its stake in shares of 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. Abich Financial Wealth Management LLC grew its stake in shares of Tesla by 168.8% during the second 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. Valley Wealth Managers Inc. acquired a new position in shares of Tesla during the second quarter worth $26,000. Finally, M&R Capital Management Inc. grew its stake in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.