Tesla (NASDAQ:TSLA) Price Target Raised to $480.00

Tesla (NASDAQ:TSLA) had its target price upped by Robert W. Baird from $280.00 to $480.00 in a research report report published on Wednesday morning, Marketbeat.com reports. The firm currently has an outperform rating on the electric vehicle producer’s stock.

Other research analysts have also recently issued reports about the stock. Cantor Fitzgerald lifted their price target on shares of Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Piper Sandler upped their price target on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Canaccord Genuity Group raised their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Guggenheim upped their target price on Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research report on Thursday, December 5th. Finally, Stifel Nicolaus upped their price target on Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $272.06.

Tesla Trading Down 3.5 %

Shares of TSLA stock opened at $421.06 on Wednesday. Tesla has a 1-year low of $138.80 and a 1-year high of $488.54. The firm’s 50-day simple moving average is $322.89 and its 200-day simple moving average is $255.91. The firm has a market cap of $1.35 trillion, a P/E ratio of 115.36, a PEG ratio of 10.80 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

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

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,903,716. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 522,886 shares of company stock valued at $171,393,831 over the last quarter. Insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Transcendent Capital Group LLC acquired a new position in Tesla during the 3rd quarter worth $29,000. Clean Yield Group lifted its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Abich Financial Wealth Management LLC grew its position 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 valued at $26,000 after buying an additional 81 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the 2nd quarter worth about $26,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the 3rd quarter worth approximately $35,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.