Tesla (NASDAQ:TSLA) Price Target Raised to $265.00 at Bank of America

Tesla (NASDAQ:TSLA) had its price objective upped by Bank of America from $255.00 to $265.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other research reports. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Truist Financial raised their price target on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research report on Thursday. Jefferies Financial Group upped their price objective on Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a report on Monday. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price objective on shares of Tesla in a report on Wednesday. Finally, William Blair began coverage on Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $218.18.

Tesla Trading Up 21.9 %

Tesla stock opened at $260.48 on Thursday. The stock has a market cap of $832.14 billion, a P/E ratio of 73.17, a PEG ratio of 6.24 and a beta of 2.29. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The firm’s fifty day moving average price is $228.54 and its 200-day moving average price is $206.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the firm posted $0.53 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts forecast that Tesla will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Institutional investors and hedge funds have recently bought and sold shares of the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Tesla during the first quarter valued at approximately $79,000. Wealthcare Advisory Partners LLC boosted its stake in Tesla by 3.5% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 14,655 shares of the electric vehicle producer’s stock valued at $2,576,000 after purchasing an additional 501 shares during the last quarter. Register Financial Advisors LLC increased its holdings in shares of Tesla by 32.7% in the 1st quarter. Register Financial Advisors LLC now owns 1,677 shares of the electric vehicle producer’s stock worth $295,000 after purchasing an additional 413 shares in the last quarter. Kathmere Capital Management LLC raised its stake in shares of Tesla by 9.2% in the first quarter. Kathmere Capital Management LLC now owns 1,177 shares of the electric vehicle producer’s stock worth $207,000 after purchasing an additional 99 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. lifted its holdings in shares of Tesla by 4.3% during the first quarter. Astoria Portfolio Advisors LLC. now owns 1,613 shares of the electric vehicle producer’s stock valued at $260,000 after purchasing an additional 67 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

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.