Tesla (NASDAQ:TSLA) Given New $135.00 Price Target at Wells Fargo & Company

Tesla (NASDAQ:TSLA) had its price target lifted by equities researchers at Wells Fargo & Company from $125.00 to $135.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the electric vehicle producer’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 66.63% from the company’s previous close.

A number of other equities research analysts have also weighed in on TSLA. Piper Sandler lifted their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Glj Research reiterated a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Friday, January 3rd. Stifel Nicolaus upped their price objective on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Mizuho raised shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $230.00 to $515.00 in a research note on Tuesday, December 17th. Finally, Wedbush increased their price target on shares of Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Nine investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $318.31.

Tesla Stock Up 1.1 %

Shares of NASDAQ TSLA opened at $404.60 on Thursday. The firm’s fifty day moving average is $403.18 and its 200 day moving average is $297.99. Tesla has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.30 trillion, a price-to-earnings ratio of 198.33, a PEG ratio of 8.08 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.54%. On average, equities research analysts expect that Tesla will post 2.82 earnings per share for the current year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $31,548,461.84. This represents a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 553,386 shares of company stock valued at $196,305,796 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Hedge funds have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC purchased a new stake in Tesla during the third quarter valued at $29,000. Clean Yield Group grew its stake in shares of 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 purchasing an additional 48 shares during the period. Peterson Financial Group Inc. purchased a new stake in shares of Tesla during the 3rd quarter valued at about $35,000. M&R Capital Management Inc. lifted its stake in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the fourth quarter worth approximately $46,000. 66.20% of the stock is currently owned by hedge funds and other 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.