Tesla (NASDAQ:TSLA) PT Raised to $265.00 at Bank of America

Tesla (NASDAQ:TSLA) had its target price increased by analysts at Bank of America from $255.00 to $265.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the electric vehicle producer’s stock. Bank of America‘s price objective indicates a potential downside of 1.56% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. TD Cowen lifted their target price on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. New Street Research cut Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research note on Wednesday, July 24th. Piper Sandler upped their price target on shares of Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, KGI Securities restated a “neutral” rating and issued a $236.00 price objective on shares of Tesla in a research note on Thursday, July 25th. 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $219.00.

Tesla Trading Up 3.3 %

Shares of NASDAQ TSLA opened at $269.19 on Thursday. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $858.50 billion, a PE ratio of 68.67, a PEG ratio of 6.24 and a beta of 2.29. Tesla has a twelve month low of $138.80 and a twelve month high of $271.00. The stock has a fifty day simple moving average of $229.47 and a 200-day simple moving average of $206.79.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the company posted $0.53 EPS. Tesla’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts forecast that Tesla will post 1.75 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other 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 transaction of $65,865.69. Following the sale, the senior vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSLA. Vanguard Group Inc. increased its position in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after buying an additional 11,023,436 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC boosted its holdings in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares during the last quarter. Finally, ARK Investment Management LLC grew its position in Tesla by 2.6% during the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after acquiring an additional 135,966 shares during the period. 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.