Tesla (NASDAQ:TSLA) Given New $236.00 Price Target at Royal Bank of Canada

Tesla (NASDAQ:TSLA) had its price objective upped by Royal Bank of Canada from $224.00 to $236.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an outperform rating on the electric vehicle producer’s stock.

A number of other brokerages have also weighed in on TSLA. Barclays cut their target price on shares of Tesla from $225.00 to $220.00 and set an equal weight rating for the company in a research report on Thursday, July 25th. Oppenheimer reiterated a market perform rating on shares of Tesla in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft restated a buy rating and set a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Stifel Nicolaus started coverage on Tesla in a research report on Tuesday, June 25th. They issued a buy rating and a $265.00 price target for the company. Finally, Canaccord Genuity Group reissued a buy rating and set a $254.00 price objective on shares of Tesla in a report on Friday, September 13th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $210.90.

Tesla Stock Performance

Shares of TSLA stock opened at $244.50 on Tuesday. Tesla has a one year low of $138.80 and a one year high of $271.00. The company has a market cap of $781.09 billion, a P/E ratio of 62.37, a P/E/G ratio of 6.80 and a beta of 2.29. The firm has a 50-day moving average of $224.18 and a 200-day moving average of $202.26. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. Equities research analysts forecast that Tesla will post 1.75 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 74,661 shares of company stock valued at $16,663,291. Insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently modified their holdings of TSLA. Vanguard Group Inc. boosted its stake in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after buying an additional 3,795,748 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after acquiring an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC boosted its position in shares of Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after purchasing an additional 135,966 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Tesla by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after purchasing an additional 412,872 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.