TD Cowen Increases Tesla (NASDAQ:TSLA) Price Target to $180.00

Tesla (NASDAQ:TSLA) had its target price hoisted by investment analysts at TD Cowen from $160.00 to $180.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the electric vehicle producer’s stock. TD Cowen’s price objective points to a potential downside of 26.95% from the company’s previous close.

Several other research analysts also recently commented on TSLA. Mizuho decreased their price target on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Piper Sandler reissued an “overweight” rating and set a $205.00 price target on shares of Tesla in a research note on Monday, April 22nd. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday. New Street Research reissued a “buy” rating and set a $235.00 price target on shares of Tesla in a research note on Tuesday, June 25th. Finally, Canaccord Genuity Group lifted their target price on shares of Tesla from $222.00 to $254.00 and gave the stock a “buy” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $189.47.

Tesla Trading Up 6.5 %

Shares of Tesla stock opened at $246.39 on Wednesday. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29. The firm has a market cap of $785.79 billion, a PE ratio of 62.85, a PEG ratio of 5.74 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The company has a 50 day simple moving average of $182.57 and a two-hundred day simple moving average of $191.32.

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

Insider Activity

In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now 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 link. In related news, 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 transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. 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

A number of hedge funds have recently bought and sold shares of the company. Holderness Investments Co. boosted its stake in Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after purchasing an additional 42 shares in the last quarter. Daymark Wealth Partners LLC raised its position in Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after buying an additional 45 shares during the last quarter. Cravens & Co Advisors LLC raised its position in Tesla by 1.2% in the 3rd quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock worth $1,025,000 after buying an additional 48 shares during the last quarter. Patten & Patten Inc. TN raised its position in Tesla by 1.1% in the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after buying an additional 48 shares during the last quarter. Finally, Caerus Investment Advisors LLC raised its position in Tesla by 0.3% in the 4th quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock worth $3,577,000 after buying an additional 49 shares during the last quarter. 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.