Tesla (NASDAQ:TSLA) Given New $156.00 Price Target at Guggenheim

Tesla (NASDAQ:TSLA) had its price target boosted by Guggenheim from $153.00 to $156.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a sell rating on the electric vehicle producer’s stock.

TSLA has been the topic of several other reports. William Blair began coverage on shares of Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Bank of America upped their price target on shares of Tesla from $255.00 to $265.00 and gave the company a “buy” rating in a report on Thursday. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a research note on Thursday. Truist Financial lifted their price objective on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, UBS Group cut Tesla from a “neutral” rating to a “sell” rating and increased their target price for the company from $147.00 to $197.00 in a report on Friday, July 12th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $219.00.

Tesla Stock Up 3.3 %

Tesla stock opened at $269.19 on Thursday. The stock’s 50 day moving average price is $230.53 and its 200 day moving average price is $207.45. Tesla has a 1-year low of $138.80 and a 1-year high of $271.00. The company has a market cap of $858.50 billion, a PE ratio of 68.67, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 13.00% and a return on equity of 10.41%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 EPS. On average, sell-side analysts predict that Tesla will post 1.75 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Tesla during the first quarter worth about $79,000. Wealthcare Advisory Partners LLC increased its holdings in Tesla by 3.5% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 14,655 shares of the electric vehicle producer’s stock worth $2,576,000 after purchasing an additional 501 shares during the last quarter. Register Financial Advisors LLC raised its position in shares of Tesla by 32.7% in the 1st quarter. Register Financial Advisors LLC now owns 1,677 shares of the electric vehicle producer’s stock valued at $295,000 after purchasing an additional 413 shares in the last quarter. Kathmere Capital Management LLC boosted its stake in shares of Tesla by 9.2% during the 1st quarter. Kathmere Capital Management LLC now owns 1,177 shares of the electric vehicle producer’s stock valued at $207,000 after buying an additional 99 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. grew its position in shares of Tesla by 4.3% during the first quarter. Astoria Portfolio Advisors LLC. now owns 1,613 shares of the electric vehicle producer’s stock worth $260,000 after buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors 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.