Tesla’s (TSLA) Outperform Rating Reiterated at Royal Bank of Canada

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a research note issued on Thursday,Benzinga reports. They currently have a $440.00 price target on the electric vehicle producer’s stock. Royal Bank of Canada’s target price indicates a potential upside of 8.75% from the company’s current price.

A number of other equities research analysts also recently weighed in on TSLA. Mizuho upgraded Tesla from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $230.00 to $515.00 in a research report on Tuesday, December 17th. Guggenheim reaffirmed a “sell” rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday. Truist Financial upped their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday. Evercore ISI lifted their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Finally, Wedbush raised their target price on shares of Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $318.31.

Tesla Trading Up 1.1 %

NASDAQ:TSLA opened at $404.60 on Thursday. Tesla has a 1 year low of $138.80 and a 1 year high of $488.54. The business has a fifty day moving average of $403.18 and a 200-day moving average of $297.99. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market cap of $1.30 trillion, a price-to-earnings ratio of 198.33, a PEG ratio of 8.08 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.54%. Equities analysts predict that Tesla will post 2.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 553,386 shares of company stock valued at $196,305,796 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TSLA. Quarry LP acquired a new position in shares of Tesla during the 2nd quarter worth about $48,000. Cim LLC acquired a new position in shares of Tesla during the second quarter worth approximately $292,000. Heritage Wealth Management Inc. bought a new stake in shares of Tesla in the second quarter valued at approximately $269,000. Centaurus Financial Inc. grew its stake in shares of Tesla by 41.0% in the second quarter. Centaurus Financial Inc. now owns 23,470 shares of the electric vehicle producer’s stock worth $4,644,000 after acquiring an additional 6,823 shares during the last quarter. Finally, Ashburton Jersey Ltd acquired a new position in Tesla during the 2nd quarter valued at $63,000. 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.