Tesla (NASDAQ:TSLA) Price Target Raised to $250.00

Tesla (NASDAQ:TSLA) had its price target upped by The Goldman Sachs Group from $230.00 to $250.00 in a research report report published on Thursday, Marketbeat Ratings reports. The Goldman Sachs Group currently has a neutral rating on the electric vehicle producer’s stock.

Several other equities research analysts also recently weighed in on the stock. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research note on Wednesday. Truist Financial raised their price objective on shares of Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a research note on Thursday, October 3rd. Wolfe Research started coverage on Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Friday, October 11th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $219.00.

Tesla Stock Up 3.3 %

Tesla stock opened at $269.19 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla has a one year low of $138.80 and a one year high of $271.00. The company has a 50-day simple moving average of $230.53 and a 200-day simple moving average of $207.45. The firm has a market capitalization of $858.50 billion, a P/E ratio of 68.67, a P/E/G ratio of 6.24 and a beta of 2.29.

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 company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share. As a group, equities analysts expect that Tesla will post 1.75 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’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 transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSLA. Bank & Trust Co acquired a new position in shares of Tesla in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. bought a new position in Tesla during the second quarter worth about $26,000. Abich Financial Wealth Management LLC grew its stake in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Clean Yield Group increased its holdings 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 in the last quarter. Finally, M&R Capital Management Inc. lifted its holdings in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. 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.