Tesla (NASDAQ:TSLA) Given New $134.00 Price Target at Guggenheim

Tesla (NASDAQ:TSLA) had its target price increased by Guggenheim from $126.00 to $134.00 in a report published on Wednesday, MarketBeat.com reports. Guggenheim currently has a sell rating on the electric vehicle producer’s stock.

A number of other brokerages also recently commented on TSLA. Oppenheimer reiterated a market perform rating on shares of Tesla in a research report on Tuesday. Robert W. Baird reissued an outperform rating and set a $280.00 price target on shares of Tesla in a research report on Wednesday, April 17th. Citigroup restated a neutral rating on shares of Tesla in a research report on Wednesday, June 12th. Needham & Company LLC reiterated a hold rating on shares of Tesla in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group restated a neutral rating and set a $175.00 price target on shares of Tesla in a report on Friday, June 14th. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of Hold and an average target price of $189.47.

Tesla Price Performance

Shares of Tesla stock opened at $246.39 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The business has a 50 day simple moving average of $180.89 and a two-hundred day simple moving average of $190.93. The stock has a market capitalization of $785.79 billion, a P/E ratio of 62.85, a PEG ratio of 4.91 and a beta of 2.31. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. As a group, analysts predict that Tesla will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Large investors have recently bought and sold shares of the stock. Scotia Capital Inc. boosted its position in shares of Tesla by 2.4% in the 3rd quarter. Scotia Capital Inc. now owns 87,131 shares of the electric vehicle producer’s stock valued at $21,804,000 after purchasing an additional 2,018 shares during the period. Royal London Asset Management Ltd. boosted its holdings in shares of Tesla by 7.0% in the third quarter. Royal London Asset Management Ltd. now owns 1,214,065 shares of the electric vehicle producer’s stock valued at $303,844,000 after acquiring an additional 79,612 shares during the period. Objective Capital Management LLC grew its position in shares of Tesla by 10.8% during the third quarter. Objective Capital Management LLC now owns 1,610 shares of the electric vehicle producer’s stock worth $403,000 after acquiring an additional 157 shares during the last quarter. FSA Wealth Management LLC increased its holdings in shares of Tesla by 0.6% in the 3rd quarter. FSA Wealth Management LLC now owns 14,314 shares of the electric vehicle producer’s stock valued at $3,582,000 after acquiring an additional 83 shares during the period. Finally, Toroso Investments LLC raised its position in Tesla by 3.7% in the 3rd quarter. Toroso Investments LLC now owns 282,581 shares of the electric vehicle producer’s stock valued at $70,707,000 after purchasing an additional 10,025 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.