Tesla (NASDAQ:TSLA) Price Target Raised to $313.00 at Royal Bank of Canada

Tesla (NASDAQ:TSLA) had its target price upped by Royal Bank of Canada from $249.00 to $313.00 in a research note issued to investors on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the electric vehicle producer’s stock.

Several other research analysts have also recently commented on TSLA. HSBC reiterated a “reduce” rating and issued a $124.00 target price on shares of Tesla in a report on Friday, October 11th. Wedbush raised their price target on shares of Tesla from $300.00 to $400.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Canaccord Genuity Group raised their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Finally, Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Tesla has an average rating of “Hold” and an average target price of $230.18.

Tesla Stock Up 5.6 %

Tesla stock opened at $338.74 on Friday. The stock has a market cap of $1.09 trillion, a price-to-earnings ratio of 92.81, a PEG ratio of 10.42 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $254.75 and its two-hundred day moving average price is $222.13. Tesla has a 52 week low of $138.80 and a 52 week high of $358.64.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. On average, analysts expect that Tesla will post 1.99 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was 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 directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,797 shares of company stock worth $57,616,781 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Hedge funds have recently bought and sold shares of the business. Bank & Trust Co bought a new stake in shares of Tesla during the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new position in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted its stake in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC bought a new position in Tesla in the 3rd quarter worth approximately $29,000. Finally, Clean Yield Group raised its holdings in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other 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.