The Goldman Sachs Group Boosts Tesla (NASDAQ:TSLA) Price Target to $250.00

Tesla (NASDAQ:TSLA) had its price objective lifted by The Goldman Sachs Group from $230.00 to $250.00 in a research note released on Thursday, MarketBeat reports. The firm currently has a neutral rating on the electric vehicle producer’s stock.

Several other research firms also recently weighed in on TSLA. Wolfe Research assumed coverage on Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Citigroup decreased their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research note on Friday, July 5th. Argus reaffirmed a “buy” rating and set a $286.00 price target on shares of Tesla in a research note on Friday, July 26th. Finally, Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Thursday, October 17th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $219.00.

Tesla Trading Up 3.3 %

TSLA opened at $269.19 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The firm has a 50 day simple moving average of $230.53 and a 200 day simple moving average of $207.92. The company has a market cap of $858.50 billion, a price-to-earnings ratio of 68.67, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the business earned $0.53 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Tesla will post 1.75 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was 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 of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently modified their holdings of TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after acquiring an additional 206,248 shares during the last quarter. Morse Asset Management Inc grew its stake in Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after purchasing an additional 3,462 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Tesla by 12.9% in the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after purchasing an additional 27,130 shares during the last quarter. Entropy Technologies LP purchased a new stake in Tesla in the first quarter valued at approximately $1,941,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Tesla during the 1st quarter valued at approximately $79,000. Hedge funds and other institutional investors 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.