Tesla (NASDAQ:TSLA) Rating Increased to Buy at New Street Research

Tesla (NASDAQ:TSLA) was upgraded by equities research analysts at New Street Research from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage currently has a $460.00 target price on the electric vehicle producer’s stock. New Street Research’s price objective would suggest a potential upside of 8.90% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. Piper Sandler boosted their price objective on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Guggenheim raised their price objective on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research report on Thursday, December 5th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Nine analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $290.51.

Tesla Trading Up 2.9 %

NASDAQ TSLA opened at $422.40 on Monday. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 115.73, a price-to-earnings-growth 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. The firm’s fifty day moving average price is $362.37 and its 200 day moving average price is $274.38.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping 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 business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that Tesla will post 1.99 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of 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. Insiders sold a total of 514,886 shares of company stock valued at $169,393,831 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Institutional investors have recently added to or reduced their stakes in the business. Asset Dedication LLC boosted its holdings in Tesla by 8.1% in the second quarter. Asset Dedication LLC now owns 4,568 shares of the electric vehicle producer’s stock valued at $904,000 after acquiring an additional 344 shares during the last quarter. MainStreet Investment Advisors LLC purchased a new stake in Tesla during the second quarter worth approximately $360,000. Acadian Asset Management LLC increased its position in shares of Tesla by 39.9% in the second quarter. Acadian Asset Management LLC now owns 61,681 shares of the electric vehicle producer’s stock worth $12,202,000 after acquiring an additional 17,592 shares in the last quarter. DDFG Inc purchased a new position in shares of Tesla in the 2nd quarter valued at $221,000. Finally, Stonekeep Investments LLC acquired a new position in shares of Tesla during the 2nd quarter valued at $2,428,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.