Tesla (NASDAQ:TSLA) Price Target Raised to $500.00

Tesla (NASDAQ:TSLA) had its price objective lifted by Piper Sandler from $315.00 to $500.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the electric vehicle producer’s stock.

A number of other research firms have also recently commented on TSLA. Truist Financial reissued a “hold” rating and set a $360.00 price target on shares of Tesla in a report on Thursday, January 2nd. Barclays upped their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Evercore ISI boosted their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Finally, Jefferies Financial Group lifted their price target on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $309.48.

Tesla Trading Down 0.7 %

Shares of NASDAQ:TSLA opened at $412.38 on Tuesday. The stock has a 50 day moving average of $395.08 and a 200 day moving average of $292.13. The company has a market cap of $1.32 trillion, a PE ratio of 112.98, a price-to-earnings-growth ratio of 8.55 and a beta of 2.30. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54. 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 (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. As a group, equities research analysts expect that Tesla will post 2.01 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 617,886 shares of company stock worth $212,451,751 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several large investors have recently modified their holdings of the business. Custom Index Systems LLC bought a new stake in Tesla during the 4th quarter valued at $308,000. Heck Capital Advisors LLC bought a new stake in Tesla during the fourth quarter valued at about $647,000. Swmg LLC grew its stake in Tesla by 1.4% in the fourth quarter. Swmg LLC now owns 1,990 shares of the electric vehicle producer’s stock valued at $826,000 after purchasing an additional 28 shares during the last quarter. Great Diamond Partners LLC raised its holdings in Tesla by 0.8% in the fourth quarter. Great Diamond Partners LLC now owns 5,242 shares of the electric vehicle producer’s stock worth $2,117,000 after purchasing an additional 40 shares in the last quarter. Finally, Caprock Group LLC lifted its position in shares of Tesla by 30.6% during the fourth quarter. Caprock Group LLC now owns 51,511 shares of the electric vehicle producer’s stock valued at $20,803,000 after buying an additional 12,056 shares during the last quarter. 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.