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

Tesla (NASDAQ:TSLA) had its price objective upped by Wedbush from $300.00 to $400.00 in a research report sent to investors on Monday morning,Benzinga reports. Wedbush currently has an outperform rating on the electric vehicle producer’s stock.

A number of other equities research analysts also recently weighed in on TSLA. William Blair initiated coverage on Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Glj Research reaffirmed a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Thursday, October 17th. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research report on Friday, October 11th. Guggenheim raised their price objective on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research report on Wednesday, October 23rd. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $225.06.

Tesla Stock Performance

Shares of Tesla stock opened at $350.00 on Monday. The firm has a market cap of $1.12 trillion, a P/E ratio of 95.89, a P/E/G ratio of 10.59 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla has a 12 month low of $138.80 and a 12 month high of $358.64. The stock’s fifty day moving average price is $241.18 and its 200-day moving average price is $215.77.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. On average, equities research analysts expect that Tesla will post 1.96 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,797 shares of company stock worth $19,211,821. 20.70% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in TSLA. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter worth approximately $29,000. Finally, Clean Yield Group boosted its stake in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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.