Canaccord Genuity Group Boosts Tesla (NASDAQ:TSLA) Price Target to $278.00

Tesla (NASDAQ:TSLA) had its price objective lifted by equities research analysts at Canaccord Genuity Group from $254.00 to $278.00 in a research note issued on Thursday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the electric vehicle producer’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 3.27% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Robert W. Baird reissued an “outperform” rating and set a $280.00 price target on shares of Tesla in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Truist Financial raised their price target on Tesla from $215.00 to $236.00 and gave the stock a “hold” rating in a research report on Thursday, October 3rd. Glj Research reissued a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $230.00 target price on shares of Tesla in a research report on Friday, October 11th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $219.00.

Tesla Stock Up 3.3 %

NASDAQ:TSLA opened at $269.19 on Thursday. The stock’s fifty day moving average price is $229.47 and its two-hundred day moving average price is $206.79. The company has a market cap of $859.97 billion, a price-to-earnings ratio of 74.97, a P/E/G ratio of 6.24 and a beta of 2.29. Tesla has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share. On average, analysts anticipate that Tesla will post 1.75 EPS for the current year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Hedge funds and other institutional investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC bought a new position in shares of Tesla during the 1st quarter worth approximately $79,000. Wealthcare Advisory Partners LLC lifted its holdings in Tesla by 3.5% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 14,655 shares of the electric vehicle producer’s stock valued at $2,576,000 after purchasing an additional 501 shares during the last quarter. Register Financial Advisors LLC boosted its position in Tesla by 32.7% during the first quarter. Register Financial Advisors LLC now owns 1,677 shares of the electric vehicle producer’s stock worth $295,000 after purchasing an additional 413 shares during the period. Kathmere Capital Management LLC boosted its position in Tesla by 9.2% during the first quarter. Kathmere Capital Management LLC now owns 1,177 shares of the electric vehicle producer’s stock worth $207,000 after purchasing an additional 99 shares during the period. Finally, Astoria Portfolio Advisors LLC. increased its holdings in shares of Tesla by 4.3% in the first quarter. Astoria Portfolio Advisors LLC. now owns 1,613 shares of the electric vehicle producer’s stock valued at $260,000 after purchasing an additional 67 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.