Tesla (NASDAQ:TSLA) Price Target Raised to $259.00

Tesla (NASDAQ:TSLA) had its price target lifted by UBS Group from $226.00 to $259.00 in a report published on Thursday morning,Benzinga reports. They currently have a sell rating on the electric vehicle producer’s stock.

A number of other analysts also recently commented on TSLA. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Wells Fargo & Company raised their target price on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and increased their price objective for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Guggenheim reiterated a “sell” rating and set a $175.00 target price on shares of Tesla in a research report on Wednesday. Finally, Piper Sandler increased their price target on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Nine analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $318.31.

Tesla Trading Up 1.1 %

Shares of Tesla stock opened at $404.60 on Thursday. The company 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 has a 1 year low of $138.80 and a 1 year high of $488.54. The company’s fifty day simple moving average is $404.22 and its 200-day simple moving average is $299.05. 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 posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.54% and a net margin of 7.26%. As a group, sell-side analysts expect that Tesla will post 2.82 EPS for the current year.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, 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 have sold 553,386 shares of company stock worth $196,305,796 in the last three months. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Large investors have recently modified their holdings of the business. Hengehold Capital Management LLC increased its stake in Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after purchasing an additional 24 shares in the last quarter. Strategic Investment Advisors MI boosted its holdings in shares of Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after buying an additional 24 shares during the period. Acropolis Investment Management LLC increased its position in shares of Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after acquiring an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD raised its holdings in shares of Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares during the period. Finally, Vista Finance LLC lifted its position in Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after acquiring an additional 25 shares in the last quarter. 66.20% of the stock is currently 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.