Tesla (NASDAQ:TSLA) Price Target Raised to $313.00

Tesla (NASDAQ:TSLA) had its price target lifted by analysts at Royal Bank of Canada from $249.00 to $313.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the electric vehicle producer’s stock. Royal Bank of Canada’s price target would indicate a potential downside of 2.41% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Canaccord Genuity Group raised their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a research report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Finally, Wedbush boosted their price target on Tesla from $300.00 to $400.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Nine 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $230.18.

Tesla Stock Performance

NASDAQ:TSLA opened at $320.72 on Friday. The firm’s fifty day simple moving average is $252.30 and its 200 day simple moving average is $220.46. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla has a twelve month low of $138.80 and a twelve month high of $358.64. The firm has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 87.87, a PEG ratio of 10.73 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts expect that Tesla will post 1.99 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,797 shares of company stock worth $57,616,781 in the last three months. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Hedge funds and other institutional investors have recently bought and sold shares of the business. Connable Office Inc. increased its holdings in shares of Tesla by 0.3% in the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after buying an additional 38 shares in the last quarter. Community Bank N.A. lifted its holdings in shares of Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after purchasing an additional 38 shares during the last quarter. Holistic Financial Partners boosted its position in shares of Tesla by 1.0% in the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after purchasing an additional 40 shares during the period. Integris Wealth Management LLC increased its stake in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares in the last quarter. Finally, Sherrill & Hutchins Financial Advisory Inc lifted its stake in Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after buying an additional 43 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

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.