Tesla (NASDAQ:TSLA) Stock Rating Upgraded by Mizuho

Tesla (NASDAQ:TSLA) was upgraded by analysts at Mizuho from a “neutral” rating to an “outperform” rating in a note issued to investors on Tuesday, Marketbeat reports. The firm currently has a $515.00 price objective on the electric vehicle producer’s stock, up from their prior price objective of $230.00. Mizuho’s price target indicates a potential upside of 17.01% from the company’s previous close.

TSLA has been the subject of several other research reports. Wolfe Research initiated coverage on shares of Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Stifel Nicolaus lifted their price target on Tesla from $287.00 to $411.00 and gave the company a “buy” rating in a report on Monday, December 2nd. The Goldman Sachs Group upped their price objective on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Finally, Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $272.06.

Tesla Trading Down 8.3 %

Shares of NASDAQ TSLA opened at $440.13 on Tuesday. Tesla has a twelve month low of $138.80 and a twelve month high of $488.54. The firm has a market cap of $1.41 trillion, a PE ratio of 120.58, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. The business has a fifty day simple moving average of $314.87 and a two-hundred day simple moving average of $252.94. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

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

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. 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 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 522,886 shares of company stock valued at $171,393,831 over the last 90 days. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after acquiring an additional 1,022,589 shares during the period. FMR LLC grew its holdings in Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after purchasing an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Tesla by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after buying an additional 301,968 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after buying an additional 1,294,093 shares during the period. Institutional investors and hedge funds 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.