Tesla (NASDAQ:TSLA) Price Target Raised to $134.00

Tesla (NASDAQ:TSLA) had its price target increased by investment analysts at Guggenheim from $126.00 to $134.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “sell” rating on the electric vehicle producer’s stock. Guggenheim’s target price would indicate a potential downside of 42.06% from the stock’s current price.

A number of other research analysts also recently commented on the company. Canaccord Genuity Group dropped their price objective on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Truist Financial dropped their price target on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Jefferies Financial Group dropped their price target on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday. Finally, Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Wednesday, April 24th. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $187.57.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $231.26 on Wednesday. The stock’s 50-day moving average is $179.16 and its two-hundred day moving average is $191.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29. The company has a market cap of $737.53 billion, a price-to-earnings ratio of 59.00, a price-to-earnings-growth ratio of 4.91 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Analysts forecast that Tesla will post 1.86 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently bought and sold shares of TSLA. Scotia Capital Inc. boosted its holdings in shares of Tesla by 2.4% during the third quarter. Scotia Capital Inc. now owns 87,131 shares of the electric vehicle producer’s stock worth $21,804,000 after purchasing an additional 2,018 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of Tesla by 7.0% during the third quarter. Royal London Asset Management Ltd. now owns 1,214,065 shares of the electric vehicle producer’s stock worth $303,844,000 after purchasing an additional 79,612 shares during the last quarter. Objective Capital Management LLC boosted its holdings in shares of Tesla by 10.8% during the third quarter. Objective Capital Management LLC now owns 1,610 shares of the electric vehicle producer’s stock worth $403,000 after purchasing an additional 157 shares during the last quarter. FSA Wealth Management LLC boosted its holdings in shares of Tesla by 0.6% during the third quarter. FSA Wealth Management LLC now owns 14,314 shares of the electric vehicle producer’s stock worth $3,582,000 after purchasing an additional 83 shares during the last quarter. Finally, Toroso Investments LLC boosted its holdings in shares of Tesla by 3.7% during the third quarter. Toroso Investments LLC now owns 282,581 shares of the electric vehicle producer’s stock worth $70,707,000 after purchasing an additional 10,025 shares during the last quarter. 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.