Tesla, Inc. (NASDAQ:TSLA) Receives $219.45 Consensus Price Target from Brokerages

Tesla, Inc. (NASDAQ:TSLA) has been given an average rating of “Hold” by the thirty-eight analysts that are covering the company, Marketbeat reports. Eight research analysts have rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $219.45.

TSLA has been the topic of several recent research reports. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Piper Sandler increased their target price on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a research report on Wednesday, July 24th. Citigroup lowered their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their price objective on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th.

Insider Activity

In other news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,797 shares of company stock valued at $19,211,821. Insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the 3rd quarter worth approximately $29,000. Bank & Trust Co purchased a new position in shares of Tesla during the 2nd quarter worth approximately $25,000. Clean Yield Group grew its holdings in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC grew its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Finally, Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the 2nd quarter worth approximately $26,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $251.44 on Wednesday. The stock has a fifty day simple moving average of $235.57 and a two-hundred day simple moving average of $212.54. Tesla has a 1-year low of $138.80 and a 1-year high of $273.54. The firm has a market cap of $807.14 billion, a price-to-earnings ratio of 68.89, a price-to-earnings-growth ratio of 8.21 and a beta of 2.29. 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 earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. Analysts anticipate that Tesla will post 1.96 earnings per share for the current year.

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.