Tesla (NASDAQ:TSLA) Price Target Raised to $480.00 at Robert W. Baird

Tesla (NASDAQ:TSLA) had its price objective boosted by Robert W. Baird from $280.00 to $480.00 in a research note issued to investors on Wednesday morning, Marketbeat reports. Robert W. Baird currently has an outperform rating on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other reports. Wedbush reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Mizuho upgraded Tesla from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $230.00 to $515.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Glj Research reaffirmed a “sell” rating and set a $24.86 price objective on shares of Tesla in a research note on Thursday, October 17th. Finally, KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $272.06.

Tesla Stock Down 8.3 %

TSLA stock opened at $440.13 on Wednesday. The stock has a fifty day moving average of $314.87 and a 200-day moving average of $252.94. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a market capitalization of $1.41 trillion, a price-to-earnings ratio of 120.58, a PEG ratio of 10.80 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last posted 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 firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $0.53 earnings per share. As a group, equities research analysts predict that Tesla will post 1.99 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 522,886 shares of company stock worth $171,393,831 in the last three months. 20.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Institutional investors have recently made changes to their positions in the company. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in Tesla in the 3rd quarter worth about $29,000. Clean Yield Group lifted its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Tesla during the 3rd quarter valued at about $35,000. 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.