Wells Fargo & Company Raises Tesla (NASDAQ:TSLA) Price Target to $125.00

Tesla (NASDAQ:TSLA) had its price objective upped by Wells Fargo & Company from $120.00 to $125.00 in a research note published on Thursday morning, MarketBeat Ratings reports. They currently have an underweight rating on the electric vehicle producer’s stock.

A number of other analysts have also issued reports on the stock. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Citigroup lowered their target price 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. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and raised their price target for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Finally, Wolfe Research started coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $219.00.

Tesla Trading Up 3.3 %

NASDAQ TSLA opened at $269.19 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla has a one year low of $138.80 and a one year high of $271.00. The company’s 50 day moving average price is $230.53 and its 200 day moving average price is $207.92. The firm has a market capitalization of $858.50 billion, a price-to-earnings ratio of 68.67, a PEG ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that Tesla will post 1.75 EPS for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank & Trust Co acquired a new position in shares of Tesla during the second quarter worth approximately $25,000. Clean Yield Group raised its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC lifted its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in Tesla in the 2nd quarter valued at $26,000. Finally, M&R Capital Management Inc. increased its stake in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the period. 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.