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

Tesla (NASDAQ:TSLA) had its price objective boosted by Canaccord Genuity Group from $298.00 to $400.00 in a research note issued to investors on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the electric vehicle producer’s stock.

A number of other research analysts also recently issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Truist Financial reiterated a “hold” rating and issued a $360.00 target price on shares of Tesla in a research note on Thursday. Wolfe Research assumed coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Finally, Barclays lifted their target price on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $283.39.

Tesla Stock Up 8.2 %

Shares of Tesla stock opened at $410.44 on Friday. The firm’s 50 day moving average price is $362.37 and its 200-day moving average price is $273.76. 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 52-week low of $138.80 and a 52-week high of $488.54. The company has a market cap of $1.32 trillion, a P/E ratio of 112.45, a PEG ratio of 10.80 and a beta of 2.36.

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

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction 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 sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 514,886 shares of company stock valued at $169,393,831. 20.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

A number of large investors have recently modified their holdings of the business. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter valued at about $29,000. Clean Yield Group grew its holdings in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Abich Financial Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 81 shares during the period. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla in the second quarter valued at about $26,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the third quarter valued at about $35,000. Hedge funds and other institutional investors 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.