Tesla (NASDAQ:TSLA) Price Target Raised to $180.00

Tesla (NASDAQ:TSLA) had its price target increased by TD Cowen from $160.00 to $180.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the electric vehicle producer’s stock.

Other equities research analysts have also recently issued research reports about the stock. 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. Canaccord Genuity Group upped their price objective on shares of Tesla from $222.00 to $254.00 and gave the stock a buy rating in a report on Wednesday. Citigroup restated a neutral rating on shares of Tesla in a report on Wednesday, June 12th. Truist Financial reiterated a hold rating and issued a $162.00 price target on shares of Tesla in a research note on Wednesday. Finally, Piper Sandler reiterated an overweight rating and issued a $205.00 price target on shares of Tesla in a research note on Monday, April 22nd. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock 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. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29. The stock has a market capitalization of $785.79 billion, a price-to-earnings ratio of 62.85, a price-to-earnings-growth ratio of 4.91 and a beta of 2.31. The company has a fifty day moving average of $180.89 and a 200-day moving average of $190.93. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The business 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%. Equities research analysts expect that Tesla will post 1.86 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Tesla

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares in the last quarter. Norges Bank bought a new stake in shares of Tesla during the fourth quarter valued at approximately $7,844,757,000. Morgan Stanley raised its position in shares of Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Tesla by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after buying an additional 458,804 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares during the last quarter. 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.