Tesla (NASDAQ:TSLA) Given New $313.00 Price Target at Royal Bank of Canada

Tesla (NASDAQ:TSLA) had its price objective increased by Royal Bank of Canada from $249.00 to $313.00 in a research note published on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the electric vehicle producer’s stock.

TSLA has been the subject of several other research reports. Guggenheim upped their price target on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research report on Thursday, October 24th. Bank of America upped their price target on shares of Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus upped their price target on shares of Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Jefferies Financial Group upped their price target on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Finally, Glj Research reiterated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research note on Thursday, October 17th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $230.18.

Tesla Trading Up 5.6 %

NASDAQ TSLA opened at $338.74 on Friday. The stock has a market cap of $1.09 trillion, a PE ratio of 92.81, a PEG ratio of 10.42 and a beta of 2.29. 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 has a 12 month low of $138.80 and a 12 month high of $358.64. The company’s 50-day moving average price is $254.75 and its 200-day moving average price is $222.13.

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

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,797 shares of company stock worth $57,616,781. Insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its position in Tesla by 0.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after purchasing an additional 331 shares during the last quarter. M&G Plc acquired a new position in shares of Tesla during the 1st quarter worth $2,509,000. Blue Barn Wealth LLC purchased a new stake in shares of Tesla in the 1st quarter worth about $261,000. Chiron Capital Management LLC boosted its position in shares of Tesla by 3.7% in the 1st quarter. Chiron Capital Management LLC now owns 2,193 shares of the electric vehicle producer’s stock worth $386,000 after buying an additional 79 shares in the last quarter. Finally, Strait & Sound Wealth Management LLC boosted its position in shares of Tesla by 2.7% in the 1st quarter. Strait & Sound Wealth Management LLC now owns 12,335 shares of the electric vehicle producer’s stock worth $2,154,000 after buying an additional 319 shares in the last quarter. Hedge funds and other 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.