Tesla (NASDAQ:TSLA) Reaches New 12-Month High After Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) hit a new 52-week high during mid-day trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $250.00 to $345.00. The Goldman Sachs Group currently has a neutral rating on the stock. Tesla traded as high as $412.53 and last traded at $406.23, with a volume of 11660559 shares trading hands. The stock had previously closed at $400.99.

TSLA has been the topic of a number of other reports. Morgan Stanley raised their price objective on shares of Tesla from $310.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Tesla in a research note on Monday, November 18th. Wells Fargo & Company increased their target price on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Barclays upped their price target on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group lifted their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Nine analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $257.36.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 522,886 shares of company stock worth $171,393,831. Insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Old Port Advisors bought a new position in shares of Tesla during the 2nd quarter worth approximately $236,000. Wheelhouse Advisory Group LLC increased its holdings in shares of Tesla by 1.9% in the second quarter. Wheelhouse Advisory Group LLC now owns 4,282 shares of the electric vehicle producer’s stock valued at $847,000 after purchasing an additional 78 shares during the last quarter. Blue Trust Inc. raised its position in shares of Tesla by 20.2% in the second quarter. Blue Trust Inc. now owns 19,947 shares of the electric vehicle producer’s stock valued at $3,947,000 after purchasing an additional 3,356 shares during the period. Brookstone Capital Management lifted its stake in shares of Tesla by 20.4% during the 2nd quarter. Brookstone Capital Management now owns 141,287 shares of the electric vehicle producer’s stock worth $27,958,000 after buying an additional 23,903 shares during the last quarter. Finally, Insight Wealth Partners LLC bought a new stake in shares of Tesla during the 2nd quarter worth about $272,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

The firm has a market cap of $1.34 trillion, a price-to-earnings ratio of 116.58, a price-to-earnings-growth ratio of 12.64 and a beta of 2.36. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average is $294.47 and its 200 day moving average is $243.51.

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

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.