Tesla (NASDAQ:TSLA) Stock Price Expected to Rise, Piper Sandler Analyst Says

Tesla (NASDAQ:TSLA) had its price objective raised by equities research analysts at Piper Sandler from $315.00 to $500.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the electric vehicle producer’s stock. Piper Sandler’s price target indicates a potential upside of 20.45% from the stock’s previous close.

TSLA has been the topic of a number of other research reports. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research report on Monday, January 6th. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. The Goldman Sachs Group increased their price objective on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group lifted their target price on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average price target of $309.48.

Tesla Stock Down 2.1 %

Shares of NASDAQ TSLA opened at $415.11 on Tuesday. The business has a 50-day moving average of $393.38 and a 200-day moving average of $291.27. The firm has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 113.73, a PEG ratio of 8.60 and a beta of 2.30. 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 $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.53 earnings per share. Sell-side analysts expect that Tesla will post 2.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 617,886 shares of company stock valued at $212,451,751. Insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Mayflower Financial Advisors LLC lifted its holdings in Tesla by 14.4% during the fourth quarter. Mayflower Financial Advisors LLC now owns 5,320 shares of the electric vehicle producer’s stock valued at $2,148,000 after purchasing an additional 671 shares in the last quarter. Genesee Capital Advisors LLC raised its position in shares of Tesla by 115.9% during the 4th quarter. Genesee Capital Advisors LLC now owns 4,537 shares of the electric vehicle producer’s stock valued at $1,832,000 after purchasing an additional 2,436 shares during the period. Denver Wealth Management Inc. lifted its stake in shares of Tesla by 5.0% during the 4th quarter. Denver Wealth Management Inc. now owns 929 shares of the electric vehicle producer’s stock valued at $375,000 after buying an additional 44 shares in the last quarter. BSW Wealth Partners boosted its holdings in Tesla by 14.4% in the 4th quarter. BSW Wealth Partners now owns 3,659 shares of the electric vehicle producer’s stock worth $1,478,000 after buying an additional 461 shares during the period. Finally, Spectrum Planning & Advisory Services Inc. increased its stake in Tesla by 4.4% in the 4th quarter. Spectrum Planning & Advisory Services Inc. now owns 1,065 shares of the electric vehicle producer’s stock worth $430,000 after buying an additional 45 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

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.