Tesla (NASDAQ:TSLA) Price Target Increased to $300.00 by Analysts at Wedbush

Tesla (NASDAQ:TSLA) had its target price raised by investment analysts at Wedbush from $275.00 to $300.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the electric vehicle producer’s stock. Wedbush’s target price indicates a potential upside of 29.72% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. HSBC dropped their target price on Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research report on Wednesday, April 24th. Stifel Nicolaus assumed coverage on shares of Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price target on the stock. Barclays lowered their target price on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Mizuho reduced their price target on Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $188.40.

Tesla Price Performance

TSLA opened at $231.26 on Wednesday. The company has a fifty day simple moving average of $179.16 and a 200 day simple moving average of $191.09. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The stock has a market cap of $737.53 billion, a P/E ratio of 59.00, a P/E/G ratio of 4.91 and a beta of 2.31. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $22.15 billion. On average, research analysts expect that Tesla will post 1.86 EPS for the current year.

Insider Transactions at Tesla

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

Hedge Funds Weigh In On Tesla

Large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Tesla during the fourth quarter worth $7,844,757,000. International Assets Investment Management LLC boosted its holdings in Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the period. Vanguard Group Inc. raised its holdings in Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after acquiring an additional 3,866,361 shares during the period. Morgan Stanley grew its position in shares of Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after purchasing an additional 1,402,443 shares during the period. 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.