Brokerages Set Tesla, Inc. (NASDAQ:TSLA) Price Target at $219.45

Shares of Tesla, Inc. (NASDAQ:TSLA) have received a consensus rating of “Hold” from the thirty-eight analysts that are currently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $219.45.

TSLA has been the topic of several analyst reports. HSBC reaffirmed a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. Wells Fargo & Company upped their price objective on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a research report on Wednesday, October 23rd. Canaccord Genuity Group upped their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Guggenheim upped their price objective on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday, October 24th.

Tesla Stock Performance

Shares of TSLA opened at $251.44 on Wednesday. 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 business’s 50 day moving average price is $235.57 and its 200-day moving average price is $212.54. Tesla has a 52 week low of $138.80 and a 52 week high of $273.54. The stock has a market cap of $807.14 billion, a P/E ratio of 68.89, a P/E/G ratio of 8.21 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that Tesla will post 1.96 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated 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 owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was 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 of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock worth $19,211,821 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Several institutional investors have recently added to or reduced their stakes in the company. ICICI Prudential Asset Management Co Ltd lifted its stake in 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 worth $6,394,000 after purchasing an additional 3,909 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Tesla by 30.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 46,755 shares of the electric vehicle producer’s stock worth $12,233,000 after purchasing an additional 10,898 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of 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. Angeles Investment Advisors LLC increased its position in shares of Tesla by 1.8% during the third quarter. Angeles Investment Advisors LLC now owns 3,021 shares of the electric vehicle producer’s stock worth $790,000 after acquiring an additional 53 shares during the period. Finally, Cornerstone Planning Group LLC increased its position in shares of Tesla by 10.3% during the third quarter. Cornerstone Planning Group LLC now owns 2,317 shares of the electric vehicle producer’s stock worth $601,000 after acquiring an additional 216 shares during the period. 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.