Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA) had its price objective raised by Deutsche Bank Aktiengesellschaft from $435.00 to $440.00 in a research report report published on Thursday, Marketbeat reports. The brokerage currently has a buy rating on the electric vehicle producer’s stock.

Several other equities research analysts also recently commented on TSLA. China Renaissance reaffirmed a “hold” rating and set a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Evercore ISI increased their price objective on Tesla from $235.00 to $300.00 and gave the stock an “in-line” rating in a research note on Monday, October 13th. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Dbs Bank boosted their target price on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Finally, Truist Financial boosted their target price on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have issued a Hold rating and eleven have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $380.97.

Tesla Trading Up 2.3%

Shares of NASDAQ TSLA opened at $448.98 on Thursday. Tesla has a 12 month low of $214.25 and a 12 month high of $488.54. The company has a market cap of $1.49 trillion, a price-to-earnings ratio of 299.32, a P/E/G ratio of 15.78 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $396.00 and a 200-day simple moving average of $338.45.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.72% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the prior year, the business posted $0.72 earnings per share. Tesla’s revenue was up 11.6% compared to the same quarter last year. Sell-side analysts predict that Tesla will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

Several institutional investors have recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Tesla by 2.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 385,969 shares of the electric vehicle producer’s stock worth $171,648,000 after purchasing an additional 8,128 shares in the last quarter. Moneywise Inc. acquired a new stake in Tesla in the 3rd quarter valued at $208,000. Kesler Norman & Wride LLC boosted its stake in Tesla by 90.5% in the 3rd quarter. Kesler Norman & Wride LLC now owns 3,180 shares of the electric vehicle producer’s stock valued at $1,414,000 after buying an additional 1,511 shares in the last quarter. Narwhal Capital Management boosted its stake in Tesla by 32.8% in the 3rd quarter. Narwhal Capital Management now owns 9,516 shares of the electric vehicle producer’s stock valued at $4,232,000 after buying an additional 2,350 shares in the last quarter. Finally, Jessup Wealth Management Inc boosted its stake in Tesla by 1.9% in the 3rd quarter. Jessup Wealth Management Inc now owns 25,421 shares of the electric vehicle producer’s stock valued at $11,305,000 after buying an additional 477 shares in the last quarter. Institutional investors and hedge funds 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.