Tesla (NASDAQ:TSLA) PT Raised to $153.00

Tesla (NASDAQ:TSLA) had its price objective raised by analysts at Guggenheim from $134.00 to $153.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “sell” rating on the electric vehicle producer’s stock. Guggenheim’s target price suggests a potential downside of 33.24% from the company’s current price.

A number of other research analysts also recently commented on TSLA. Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a report on Monday. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research report on Thursday, September 5th. Citigroup reduced their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Wednesday, July 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $300.00 target price on shares of Tesla in a report on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $209.60.

Tesla Stock Down 0.3 %

Tesla stock traded down $0.63 during midday trading on Friday, reaching $229.18. The company’s stock had a trading volume of 41,878,215 shares, compared to its average volume of 96,715,977. The stock’s 50-day simple moving average is $223.80 and its 200-day simple moving average is $194.45. 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 has a 52-week low of $138.80 and a 52-week high of $278.98. The stock has a market capitalization of $732.15 billion, a P/E ratio of 58.46, a PEG ratio of 6.03 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $0.78 earnings per share. On average, sell-side analysts expect that Tesla will post 1.75 EPS for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s 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 in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Institutional Trading of Tesla

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. Norges Bank acquired a new position in Tesla in the fourth quarter valued at $7,844,757,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC lifted its holdings in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the period. Finally, ARK Investment Management LLC increased its stake in Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after purchasing an additional 135,966 shares in 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.