Tesla (NASDAQ:TSLA) Rating Increased to Buy at Roth Mkm

Roth Mkm upgraded shares of Tesla (NASDAQ:TSLA) from a neutral rating to a buy rating in a report published on Monday morning, MarketBeat.com reports. They currently have $380.00 target price on the electric vehicle producer’s stock, up from their previous target price of $85.00.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group upped their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. William Blair assumed coverage on Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Truist Financial upped their target price on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Wolfe Research initiated coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Piper Sandler upped their price target on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Nine equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $243.75.

Tesla Trading Up 3.5 %

NASDAQ TSLA opened at $357.09 on Monday. The business’s 50-day moving average price is $274.55 and its two-hundred day moving average price is $232.59. Tesla has a 12 month low of $138.80 and a 12 month high of $361.93. The firm has a market capitalization of $1.15 trillion, a PE ratio of 97.83, a price-to-earnings-growth ratio of 11.21 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.

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

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Tesla

A number of large investors have recently made changes to their positions in the stock. Inspire Trust Co. N.A. boosted its holdings in shares of Tesla by 23.3% in the third quarter. Inspire Trust Co. N.A. now owns 8,200 shares of the electric vehicle producer’s stock worth $2,145,000 after acquiring an additional 1,548 shares during the period. Beaird Harris Wealth Management LLC boosted its holdings in shares of Tesla by 1,089.8% in the third quarter. Beaird Harris Wealth Management LLC now owns 25,949 shares of the electric vehicle producer’s stock worth $6,789,000 after acquiring an additional 23,768 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Tesla by 8.2% in the third quarter. Franklin Resources Inc. now owns 3,958,174 shares of the electric vehicle producer’s stock worth $1,035,577,000 after acquiring an additional 300,951 shares during the period. Tri Ri Asset Management Corp bought a new position in shares of Tesla in the third quarter worth $11,145,000. Finally, Peapack Gladstone Financial Corp boosted its holdings in shares of Tesla by 2.6% in the third quarter. Peapack Gladstone Financial Corp now owns 15,845 shares of the electric vehicle producer’s stock worth $4,146,000 after acquiring an additional 403 shares during the period. 66.20% of the stock is owned by institutional investors.

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.