Tesla (NASDAQ:TSLA) Price Target Raised to $492.00

Tesla (NASDAQ:TSLA) had its price target lifted by stock analysts at Stifel Nicolaus from $411.00 to $492.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the electric vehicle producer’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 18.23% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Barclays lifted their price objective on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Glj Research reaffirmed a “sell” rating and issued a $24.86 target price on shares of Tesla in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $292.97.

Tesla Trading Up 1.4 %

Shares of NASDAQ:TSLA traded up $5.70 during mid-day trading on Monday, hitting $416.14. The stock had a trading volume of 31,563,955 shares, compared to its average volume of 77,306,617. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market cap of $1.34 trillion, a PE ratio of 114.01, a P/E/G ratio of 10.80 and a beta of 2.36. The company’s 50 day moving average is $362.37 and its 200-day moving average is $274.38.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating 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 return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. On average, sell-side analysts predict that Tesla will post 1.99 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % 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, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 514,886 shares of company stock valued at $169,393,831 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently bought and sold shares of the company. Connable Office Inc. lifted its position in shares of Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after purchasing an additional 38 shares during the period. Community Bank N.A. raised its holdings in Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after buying an additional 38 shares during the last quarter. Holistic Financial Partners lifted its stake in shares of Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after buying an additional 40 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc grew its holdings in shares of 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 during the last quarter. Finally, Altman Advisors Inc. increased its position in shares of Tesla by 0.4% during the third quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after acquiring an additional 43 shares in the last quarter. 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.