Tesla (NASDAQ:TSLA) PT Raised to $249.00 at Royal Bank of Canada

Tesla (NASDAQ:TSLA) had its price objective boosted by Royal Bank of Canada from $236.00 to $249.00 in a research note issued to investors on Thursday, MarketBeat.com reports. Royal Bank of Canada currently has an outperform rating on the electric vehicle producer’s stock.

Other equities analysts have also recently issued research reports about the company. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. William Blair began coverage on Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating on the stock. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research report on Wednesday, July 24th. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and increased their price objective for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price target on shares of Tesla in a report on Wednesday. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $219.00.

Tesla Stock Performance

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. The business’s 50-day simple moving average is $230.53 and its 200 day simple moving average is $207.45. The firm has a market capitalization of $858.50 billion, a PE ratio of 68.67, a PEG ratio of 6.24 and a beta of 2.29. Tesla has a 52-week low of $138.80 and a 52-week high of $271.00.

Tesla (NASDAQ:TSLA) last issued 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. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. As a group, sell-side analysts expect that Tesla will post 1.75 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla 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 transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction 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 directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents 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 currently owned by insiders.

Institutional Trading of Tesla

Several hedge funds have recently modified their holdings of the stock. Financial Advocates Investment Management increased its holdings in shares of Tesla by 1.8% during the third quarter. Financial Advocates Investment Management now owns 53,003 shares of the electric vehicle producer’s stock valued at $13,867,000 after acquiring an additional 952 shares in the last quarter. S.A. Mason LLC increased its stake in Tesla by 6.8% during the 3rd quarter. S.A. Mason LLC now owns 1,295 shares of the electric vehicle producer’s stock valued at $339,000 after purchasing an additional 82 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. raised its holdings in Tesla by 2.9% during the third quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 5,042 shares of the electric vehicle producer’s stock worth $1,319,000 after buying an additional 142 shares during the last quarter. Oak Harvest Investment Services bought a new position in shares of Tesla in the third quarter valued at $319,000. Finally, Burr Financial Services LLC bought a new stake in shares of Tesla during the third quarter worth about $9,892,000. Institutional investors 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.