Tesla (NASDAQ:TSLA) Price Target Raised to $400.00 at Wedbush

Tesla (NASDAQ:TSLA) had its price objective hoisted by Wedbush from $300.00 to $400.00 in a report issued on Monday,Benzinga reports. Wedbush currently has an outperform rating on the electric vehicle producer’s stock.

Several other equities research analysts also recently issued reports on the stock. Bank of America raised their price objective on shares of Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus boosted their price target on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Roth Mkm reiterated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research report on Friday, October 11th. Citigroup reduced their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $225.06.

Tesla Stock Performance

TSLA opened at $330.24 on Monday. 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 has a 12-month low of $138.80 and a 12-month high of $358.64. The business has a 50 day moving average of $246.26 and a 200-day moving average of $218.16. The stock has a market cap of $1.06 trillion, a price-to-earnings ratio of 88.91, a PEG ratio of 10.67 and a beta of 2.29.

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

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on 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 approximately $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This trade 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 this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 188,797 shares of company stock worth $57,616,781 in the last quarter. 20.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Tesla

Hedge funds and other institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Tesla by 0.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after buying an additional 331 shares in the last quarter. Entropy Technologies LP bought a new position in Tesla during the first quarter worth $1,941,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Tesla by 2.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,711,536 shares of the electric vehicle producer’s stock worth $300,870,000 after purchasing an additional 44,817 shares during the period. Koshinski Asset Management Inc. increased its stake in Tesla by 139.7% in the first quarter. Koshinski Asset Management Inc. now owns 25,098 shares of the electric vehicle producer’s stock valued at $4,412,000 after purchasing an additional 14,626 shares in the last quarter. Finally, New Insight Wealth Advisors raised its holdings in shares of Tesla by 0.3% during the first quarter. New Insight Wealth Advisors now owns 32,919 shares of the electric vehicle producer’s stock valued at $5,787,000 after purchasing an additional 90 shares during the period. 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.