Tesla (NASDAQ:TSLA) Price Target Raised to $550.00

Tesla (NASDAQ:TSLA) had its target price lifted by Wedbush from $515.00 to $550.00 in a research report report published on Wednesday, MarketBeat.com reports. The firm currently has an outperform rating on the electric vehicle producer’s stock.

A number of other research analysts have also weighed in on the stock. Guggenheim raised their target price on shares of Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a report on Thursday, December 5th. Evercore ISI upped their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. HSBC reiterated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Glj Research reaffirmed a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research note on Friday, January 3rd. Finally, Morgan Stanley boosted their target price on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Eight research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $313.84.

Tesla Stock Down 1.4 %

Shares of TSLA stock opened at $406.58 on Wednesday. The company’s fifty day simple moving average is $397.11 and its two-hundred day simple moving average is $292.97. Tesla has a 52 week low of $138.80 and a 52 week high of $488.54. The stock has a market cap of $1.31 trillion, a P/E ratio of 111.39, a PEG ratio of 8.42 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Analysts predict that Tesla will post 2.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now 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. Over the last ninety days, insiders sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Several institutional investors have recently added to or reduced their stakes in TSLA. Sfmg LLC increased its position in shares of Tesla by 0.9% in the 2nd quarter. Sfmg LLC now owns 11,918 shares of the electric vehicle producer’s stock valued at $2,358,000 after acquiring an additional 106 shares during the period. Wescott Financial Advisory Group LLC increased its holdings in shares of Tesla by 8.0% in the second quarter. Wescott Financial Advisory Group LLC now owns 2,002 shares of the electric vehicle producer’s stock valued at $396,000 after purchasing an additional 149 shares during the period. Kingfisher Capital LLC purchased a new position in shares of Tesla in the second quarter worth about $1,290,000. Alight Capital Management LP acquired a new stake in shares of Tesla during the second quarter worth about $1,979,000. Finally, Abich Financial Wealth Management LLC boosted 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 buying an additional 81 shares during 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.