Tesla (NASDAQ:TSLA) Rating Increased to Outperform at Mizuho

Mizuho upgraded shares of Tesla (NASDAQ:TSLA) from a neutral rating to an outperform rating in a report released on Tuesday morning, MarketBeat.com reports. They currently have $515.00 price objective on the electric vehicle producer’s stock, up from their prior price objective of $230.00.

A number of other equities research analysts also recently commented on TSLA. Truist Financial boosted their target price on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Piper Sandler upped their price target on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $272.06.

Tesla Stock Down 0.9 %

Shares of TSLA opened at $436.17 on Tuesday. The business’s 50 day moving average is $318.82 and its 200 day moving average is $254.21. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market capitalization of $1.40 trillion, a PE ratio of 119.50, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share 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 analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 earnings per share. Research analysts expect that Tesla will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the 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 transaction, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their position. The sale 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 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 owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 522,886 shares of company stock valued at $171,393,831 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its position in Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares in the last quarter. Clean Energy Transition LLP boosted its position in Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after purchasing an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC grew its stake 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 purchasing an additional 5,875,484 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after buying an additional 2,511,488 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.