Tesla (NASDAQ:TSLA) Price Target Raised to $313.00

Tesla (NASDAQ:TSLA) had its price objective raised by Royal Bank of Canada from $249.00 to $313.00 in a research report sent to investors on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the electric vehicle producer’s stock.

Several other analysts have also recently commented on the company. Citigroup lowered their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research note on Thursday, October 24th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research note on Tuesday, August 20th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $230.18.

Tesla Stock Performance

Shares of TSLA opened at $320.72 on Friday. Tesla has a 52-week low of $138.80 and a 52-week high of $358.64. 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 firm has a market cap of $1.03 trillion, a price-to-earnings ratio of 87.87, a PEG ratio of 10.42 and a beta of 2.29. The business’s 50 day moving average is $252.30 and its two-hundred day moving average is $221.01.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. Analysts forecast that Tesla will post 1.99 EPS for the current fiscal year.

Insider Activity

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 188,797 shares of company stock valued at $57,616,781. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSLA. Oppenheimer & Co. Inc. increased its position in Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after acquiring an additional 1,741 shares during the period. Tyler Stone Wealth Management increased its holdings in shares of Tesla by 109.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after purchasing an additional 4,929 shares during the period. Savvy Advisors Inc. raised its position in shares of Tesla by 24.2% during the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after buying an additional 1,467 shares during the last quarter. ICICI Prudential Asset Management Co Ltd lifted its stake in shares of Tesla by 19.0% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock valued at $6,394,000 after buying an additional 3,909 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after acquiring an additional 194,796 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.