Tesla (NASDAQ:TSLA) Price Target Raised to $300.00

Tesla (NASDAQ:TSLA) had its target price lifted by investment analysts at Jefferies Financial Group from $195.00 to $300.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the electric vehicle producer’s stock. Jefferies Financial Group’s price target would suggest a potential downside of 9.16% from the stock’s current price.

Several other equities analysts have also issued reports on TSLA. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Wedbush lifted their price objective on shares of Tesla from $300.00 to $400.00 and gave the company an “outperform” rating in a report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Bank of America lifted their price target on shares of Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a report on Thursday, October 24th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $228.24.

Tesla Stock Performance

Tesla stock opened at $330.24 on Thursday. The company has a 50 day moving average price of $246.26 and a 200-day moving average price of $218.16. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $358.64. The company has a market capitalization of $1.06 trillion, a PE ratio of 90.48, a P/E/G ratio of 10.67 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted 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. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. As a group, equities analysts forecast that Tesla will post 1.99 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s 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 owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 188,797 shares of company stock worth $57,616,781. Company insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Large investors have recently bought and sold shares of the business. Transcendent Capital Group LLC purchased a new stake in Tesla during the 3rd quarter valued at about $29,000. Bank & Trust Co purchased a new stake in Tesla during the 2nd quarter valued at about $25,000. Clean Yield Group grew its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC grew its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Finally, Valley Wealth Managers Inc. purchased a new stake in Tesla during the 2nd quarter valued at about $26,000. Hedge funds and other 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.