UBS Group Forecasts Strong Price Appreciation for Tesla (NASDAQ:TSLA) Stock

Tesla (NASDAQ:TSLA) had its price objective boosted by UBS Group from $197.00 to $226.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “sell” rating on the electric vehicle producer’s stock. UBS Group’s price objective would suggest a potential downside of 35.39% from the company’s previous close.

Several other brokerages have also recently weighed in on TSLA. Canaccord Genuity Group boosted their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 target price on shares of Tesla in a report on Tuesday, September 10th. Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Robert W. Baird restated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group lifted their target price on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $231.06.

Tesla Price Performance

NASDAQ TSLA traded down $2.79 on Monday, reaching $349.77. The company had a trading volume of 19,615,025 shares, compared to its average volume of 95,467,813. The stock has a market capitalization of $1.12 trillion, a PE ratio of 95.83, a price-to-earnings-growth ratio of 11.45 and a beta of 2.29. Tesla has a 12 month low of $138.80 and a 12 month high of $361.93. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average price is $264.07 and its 200 day moving average price is $226.79.

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 company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts predict that Tesla will post 1.99 earnings per share for the current year.

Insider Buying and Selling

In other Tesla 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 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 approximately $26,258,000. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,187 shares of company stock valued at $92,956,692 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of large investors have recently made changes to their positions in TSLA. Transcendent Capital Group LLC purchased a new stake in Tesla in the third quarter valued at about $29,000. Bank & Trust Co acquired a new position in shares of Tesla during the second quarter valued at about $25,000. Clean Yield Group raised its position in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Finally, Valley Wealth Managers Inc. purchased a new stake in Tesla during the 2nd quarter worth approximately $26,000. 66.20% of the stock is owned by institutional investors and hedge funds.

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.