Guggenheim Raises Tesla (NASDAQ:TSLA) Price Target to $153.00

Tesla (NASDAQ:TSLA) had its price target hoisted by Guggenheim from $134.00 to $153.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “sell” rating on the electric vehicle producer’s stock. Guggenheim’s price objective would indicate a potential downside of 33.56% from the company’s previous close.

Several other analysts also recently weighed in on the stock. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Canaccord Genuity Group boosted their price objective on Tesla from $222.00 to $254.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. The Goldman Sachs Group lowered their target price on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target for the company in a research report on Friday, July 5th. Finally, Barclays lowered their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $209.60.

Tesla Stock Up 0.2 %

Shares of Tesla stock opened at $230.29 on Friday. The stock has a market capitalization of $735.69 billion, a price-to-earnings ratio of 58.75, a PEG ratio of 6.08 and a beta of 2.29. Tesla has a twelve month low of $138.80 and a twelve month high of $278.98. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The business’s 50 day simple moving average is $223.37 and its 200-day simple moving average is $194.63.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 earnings per share. Equities research analysts forecast that Tesla will post 1.75 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently modified their holdings of the company. Bank & Trust Co acquired a new stake in Tesla during the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% in the second 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. OLD Point Trust & Financial Services N A acquired a new position in Tesla in the fourth quarter valued at approximately $37,000. Finally, Kessler Investment Group LLC grew its position in shares of Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after buying an additional 51 shares during the period. 66.20% of the stock is owned by 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.