Robert W. Baird Issues Positive Forecast for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA) had its price objective hoisted by Robert W. Baird from $280.00 to $480.00 in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm presently has an “outperform” rating on the electric vehicle producer’s stock. Robert W. Baird’s price objective indicates a potential upside of 10.05% from the company’s current price.

Several other equities analysts have also issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and set a $400.00 price target on shares of Tesla in a research report on Monday, November 18th. Wells Fargo & Company increased their price objective on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Finally, Jefferies Financial Group increased their price target 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 research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $272.06.

Tesla Price Performance

TSLA stock opened at $436.17 on Wednesday. The business has a 50 day moving average price of $318.82 and a 200 day moving average price of $254.21. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.40 trillion, a price-to-earnings ratio of 119.50, a PEG ratio of 10.80 and a beta of 2.36. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. Equities research analysts anticipate that Tesla will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 522,886 shares of company stock valued at $171,393,831. 20.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. SMART Wealth LLC purchased a new position in Tesla during the third quarter worth $208,000. DGS Capital Management LLC increased its position in Tesla by 17.3% during the 3rd quarter. DGS Capital Management LLC now owns 3,804 shares of the electric vehicle producer’s stock worth $995,000 after purchasing an additional 560 shares in the last quarter. Boulder Wealth Advisors LLC acquired a new position in Tesla in the 3rd quarter valued at about $232,000. Oriental Harbor Investment Fund purchased a new position in Tesla in the 3rd quarter valued at about $14,700,000. Finally, Inspire Trust Co. N.A. boosted its stake in shares of Tesla by 23.3% during the 3rd quarter. Inspire Trust Co. N.A. now owns 8,200 shares of the electric vehicle producer’s stock worth $2,145,000 after purchasing an additional 1,548 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.