Tesla (NASDAQ:TSLA) Price Target Raised to $226.00

Tesla (NASDAQ:TSLA) had its target price raised by UBS Group from $197.00 to $226.00 in a report published on Monday morning,Benzinga reports. UBS Group currently has a sell rating on the electric vehicle producer’s stock.

Several other analysts have also issued reports on TSLA. Bank of America upped their price target on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Piper Sandler lifted their target price on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research note on Friday, October 11th. Finally, Canaccord Genuity Group increased their price objective on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Nine equities research 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $231.06.

Tesla Stock Performance

Shares of TSLA opened at $332.89 on Monday. Tesla has a 12 month low of $138.80 and a 12 month high of $361.93. The business’s fifty day simple moving average is $270.63 and its two-hundred day simple moving average is $229.89. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.07 trillion, a price-to-earnings ratio of 91.20, a P/E/G ratio of 11.00 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the company posted $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts anticipate that Tesla will post 1.99 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, 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 value 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 $391,164,540.60. This represents a 3.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its holdings in Tesla by 0.9% during 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 buying an additional 331 shares during the last quarter. Silvercrest Asset Management Group LLC grew its stake in shares of Tesla by 69.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 55,245 shares of the electric vehicle producer’s stock valued at $9,712,000 after buying an additional 22,624 shares in the last quarter. Ancora Advisors LLC raised its stake in shares of Tesla by 4.7% during the first quarter. Ancora Advisors LLC now owns 6,585 shares of the electric vehicle producer’s stock valued at $1,158,000 after purchasing an additional 294 shares during the period. Creekmur Asset Management LLC increased its stake in Tesla by 65.2% during the 1st quarter. Creekmur Asset Management LLC now owns 889 shares of the electric vehicle producer’s stock worth $156,000 after buying an additional 351 shares during the period. Finally, Coppell Advisory Solutions Corp. acquired a new stake in shares of Tesla during the first quarter valued at about $323,000. Hedge funds and other 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.