Tesla (NASDAQ:TSLA) Price Target Raised to $125.00 at Wells Fargo & Company

Tesla (NASDAQ:TSLA) had its target price boosted by investment analysts at Wells Fargo & Company from $120.00 to $125.00 in a research report issued on Thursday, Briefing.com reports. The brokerage presently has an “underweight” rating on the electric vehicle producer’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 41.49% from the company’s current price.

Other analysts have also issued research reports about the company. William Blair started coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating for the company. Jefferies Financial Group raised their target price on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research note on Monday. Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday. Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $214.18.

Tesla Price Performance

TSLA opened at $213.65 on Thursday. The company’s 50-day simple moving average is $228.54 and its two-hundred day simple moving average is $206.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a market capitalization of $682.53 billion, a P/E ratio of 60.01, a P/E/G ratio of 6.24 and a beta of 2.29. Tesla has a 52-week low of $138.80 and a 52-week high of $271.00.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the prior year, the company posted $0.78 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts predict that Tesla will post 1.75 EPS for the current year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the 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 transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction, the senior vice president now 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 filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents 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.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in TSLA. Future Financial Wealth Managment LLC acquired a new stake in shares of Tesla during the first quarter worth about $79,000. Wealthcare Advisory Partners LLC grew its holdings in shares of Tesla by 3.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 14,655 shares of the electric vehicle producer’s stock worth $2,576,000 after buying an additional 501 shares in the last quarter. Register Financial Advisors LLC raised its holdings in Tesla by 32.7% in the 1st quarter. Register Financial Advisors LLC now owns 1,677 shares of the electric vehicle producer’s stock valued at $295,000 after acquiring an additional 413 shares during the last quarter. Kathmere Capital Management LLC grew its position in shares of Tesla by 9.2% in the first quarter. Kathmere Capital Management LLC now owns 1,177 shares of the electric vehicle producer’s stock valued at $207,000 after purchasing an additional 99 shares during the period. Finally, Astoria Portfolio Advisors LLC. boosted its stake in Tesla by 4.3% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 1,613 shares of the electric vehicle producer’s stock worth $260,000 after buying an additional 67 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.