JPMorgan Chase & Co. Increases Tesla (NASDAQ:TSLA) Price Target to $135.00

Tesla (NASDAQ:TSLA) had its price objective raised by JPMorgan Chase & Co. from $130.00 to $135.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has an underweight rating on the electric vehicle producer’s stock.

TSLA has been the subject of several other research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $254.00 target price on shares of Tesla in a report on Friday, September 13th. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and increased their target price for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Citigroup lowered their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Piper Sandler increased their price objective on shares of Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, Mizuho boosted their target price on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $219.00.

Tesla Trading Up 3.3 %

Shares of TSLA stock opened at $269.19 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company has a market cap of $858.50 billion, a price-to-earnings ratio of 68.67, a PEG ratio of 6.24 and a beta of 2.29. Tesla has a 1 year low of $138.80 and a 1 year high of $271.00. The firm has a fifty day moving average price of $230.53 and a 200-day moving average price of $207.92.

Tesla (NASDAQ:TSLA) last released 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. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts predict that Tesla will post 1.75 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after buying an additional 11,023,436 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Tesla by 12.9% during 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 buying an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC raised its holdings in shares of Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares in the last quarter. Finally, ARK Investment Management LLC lifted its stake in Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after acquiring an additional 135,966 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.