Tesla (NASDAQ:TSLA) Price Target Raised to $492.00

Tesla (NASDAQ:TSLA) had its target price boosted by Stifel Nicolaus from $411.00 to $492.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the electric vehicle producer’s stock.

A number of other equities research analysts have also issued reports on TSLA. Canaccord Genuity Group raised their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Evercore ISI lifted their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Mizuho upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $230.00 to $515.00 in a report on Tuesday, December 17th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Finally, Robert W. Baird upped their target price on shares of Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $295.69.

Tesla Stock Up 0.1 %

Shares of TSLA opened at $394.94 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a market cap of $1.27 trillion, a PE ratio of 108.20, a P/E/G ratio of 10.80 and a beta of 2.30. The business has a fifty day moving average of $370.78 and a 200 day moving average of $278.31.

Tesla (NASDAQ:TSLA) last released its quarterly 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. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS. On average, sell-side analysts expect that Tesla will post 1.99 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently made changes to their positions in the company. Asset Dedication LLC grew its stake in Tesla by 8.1% during the 2nd quarter. Asset Dedication LLC now owns 4,568 shares of the electric vehicle producer’s stock valued at $904,000 after acquiring an additional 344 shares in the last quarter. MainStreet Investment Advisors LLC acquired a new stake in shares of Tesla in the second quarter valued at approximately $360,000. Acadian Asset Management LLC lifted its position in Tesla by 39.9% during the second quarter. Acadian Asset Management LLC now owns 61,681 shares of the electric vehicle producer’s stock worth $12,202,000 after buying an additional 17,592 shares in the last quarter. DDFG Inc acquired a new position in Tesla during the second quarter worth $221,000. Finally, Stonekeep Investments LLC purchased a new stake in Tesla in the 2nd quarter valued at $2,428,000. 66.20% of the stock is owned by hedge funds and other 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.