Tesla (NASDAQ:TSLA) PT Raised to $278.00 at Canaccord Genuity Group

Tesla (NASDAQ:TSLA) had its price objective upped by equities researchers at Canaccord Genuity Group from $254.00 to $278.00 in a note issued to investors on Thursday, Marketbeat reports. The brokerage currently has a “buy” rating on the electric vehicle producer’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 3.27% from the stock’s current price.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised their target price on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday. Mizuho raised their price objective on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Canaccord Genuity Group upped their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday. Truist Financial lifted their price target on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Citigroup decreased their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $219.00.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $269.19 on Thursday. The firm’s 50-day moving average price is $229.47 and its 200-day moving average price is $206.79. Tesla has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a market cap of $858.50 billion, a PE ratio of 68.67, a PEG ratio of 6.24 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. As a group, analysts anticipate that Tesla will post 1.75 EPS for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of large investors have recently made changes to their positions in the stock. Integris Wealth Management LLC boosted its position in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc boosted its holdings in shares of Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares during the period. Echo Wealth Management LLC increased its holdings in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the period. WASHINGTON TRUST Co raised its position in Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after purchasing an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC lifted its holdings in shares of Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after buying an additional 45 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.