Tesla (NASDAQ:TSLA) Price Target Raised to $365.00

Tesla (NASDAQ:TSLA) had its price target upped by Cantor Fitzgerald from $255.00 to $365.00 in a report issued on Tuesday,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the electric vehicle producer’s stock.

Other analysts have also issued reports about the stock. The Goldman Sachs Group upped their price objective on shares of Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Morgan Stanley lifted their price target on Tesla from $310.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Finally, Wolfe Research started coverage on Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Nine research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $254.48.

Tesla Price Performance

Shares of TSLA stock opened at $400.99 on Tuesday. The company has a market capitalization of $1.29 trillion, a P/E ratio of 109.86, a P/E/G ratio of 12.64 and a beta of 2.36. The company’s 50-day simple moving average is $288.09 and its two-hundred day simple moving average is $240.67. Tesla has a one year low of $138.80 and a one year high of $409.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping 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 company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the business posted $0.53 EPS. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities analysts anticipate that Tesla will post 1.99 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 522,886 shares of company stock valued at $171,393,831 in the last three months. 20.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSLA. Valley Wealth Managers Inc. purchased a new position in Tesla during the second quarter worth about $26,000. Abich Financial Wealth Management LLC raised its position in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in Tesla during the third quarter worth $29,000. Clean Yield Group boosted its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the period. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the third quarter valued at $35,000. 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.