Guggenheim Boosts Tesla (NASDAQ:TSLA) Price Target to $156.00

Tesla (NASDAQ:TSLA) had its price objective raised by Guggenheim from $153.00 to $156.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a sell rating on the electric vehicle producer’s stock.

Several other equities research analysts have also recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $300.00 price target on shares of Tesla in a research note on Thursday. Royal Bank of Canada increased their price target on Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research note on Thursday. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a research report on Wednesday, July 24th. HSBC restated a “reduce” rating and set a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Finally, Citigroup cut 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. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $219.00.

Tesla Price Performance

Shares of TSLA opened at $269.19 on Thursday. Tesla has a 12-month low of $138.80 and a 12-month high of $271.00. The business has a 50-day simple moving average of $230.53 and a two-hundred day simple moving average of $207.92. 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 stock has a market cap of $864.12 billion, a PE ratio of 73.75, a PEG ratio of 7.59 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 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Analysts anticipate that Tesla will post 1.75 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.70% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

A number of large investors have recently bought and sold shares of TSLA. International Assets Investment Management LLC increased its position in Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after buying an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP increased its position in Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after buying an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC increased its position 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 worth $1,167,970,000 after buying an additional 5,875,484 shares during the last quarter. Vanguard Group Inc. increased its position in Tesla by 1.7% in 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 buying an additional 3,795,748 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after buying an additional 1,479,378 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.