Robert W. Baird Issues Positive Forecast for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA) had its price objective hoisted by analysts at Robert W. Baird from $280.00 to $480.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the electric vehicle producer’s stock. Robert W. Baird’s target price suggests a potential upside of 0.03% from the stock’s current price.

A number of other brokerages have also recently weighed in on TSLA. Stifel Nicolaus increased their target price on shares of Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Barclays increased their price objective on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Royal Bank of Canada lifted their target price on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $272.06.

Tesla Stock Performance

Shares of Tesla stock opened at $479.86 on Wednesday. The firm has a market cap of $1.54 trillion, a PE ratio of 131.47, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. Tesla has a 1 year low of $138.80 and a 1 year high of $483.99. The firm’s 50-day simple moving average is $310.89 and its 200-day simple moving average is $251.62. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter last year, the business posted $0.53 EPS. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that Tesla will post 1.99 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 522,886 shares of company stock valued at $171,393,831. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of large investors have recently modified their holdings of TSLA. International Assets Investment Management LLC raised its position in shares of Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after acquiring an additional 11,023,436 shares in the last quarter. Clean Energy Transition LLP lifted its position in Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC boosted its holdings in shares of Tesla by 21,816.0% during 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 buying an additional 5,875,484 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Tesla by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after acquiring an additional 2,511,488 shares during the period. Institutional investors 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.