Tesla (NASDAQ:TSLA) Price Target Raised to $345.00 at The Goldman Sachs Group

Tesla (NASDAQ:TSLA) had its target price increased by research analysts at The Goldman Sachs Group from $250.00 to $345.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the electric vehicle producer’s stock. The Goldman Sachs Group’s target price points to a potential downside of 17.48% from the stock’s current price.

A number of other analysts have also recently commented on TSLA. Piper Sandler boosted their price target on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Cantor Fitzgerald upped their price objective on Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research report on Tuesday. UBS Group upped their price objective on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research report on Monday, November 25th. Bank of America upped their price objective on Tesla from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Nine equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $257.36.

Tesla Stock Performance

Tesla stock opened at $418.10 on Wednesday. The stock’s 50 day simple moving average is $294.47 and its two-hundred day simple moving average is $243.51. 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 stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 116.58, a PEG ratio of 12.64 and a beta of 2.36. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $429.30.

Tesla (NASDAQ:TSLA) last posted 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. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. As a group, analysts expect that Tesla will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 3.73 % 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 90 days. Insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Institutional investors have recently bought and sold shares of the business. AlphaMark Advisors LLC increased its stake in shares of Tesla by 8.1% during the second quarter. AlphaMark Advisors LLC now owns 949 shares of the electric vehicle producer’s stock worth $188,000 after purchasing an additional 71 shares in the last quarter. Welch Group LLC raised its stake in Tesla by 29.3% during the 2nd quarter. Welch Group LLC now owns 1,990 shares of the electric vehicle producer’s stock worth $394,000 after acquiring an additional 451 shares in the last quarter. Mcdonald Partners LLC purchased a new position in Tesla during the 2nd quarter worth $234,000. Human Investing LLC purchased a new stake in shares of Tesla in the second quarter valued at about $206,000. Finally, Fiduciary Financial Group LLC purchased a new stake in shares of Tesla in the second quarter valued at about $543,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.