TD Cowen Boosts Tesla (NASDAQ:TSLA) Price Target to $180.00

Tesla (NASDAQ:TSLA) had its price target upped by analysts at TD Cowen from $160.00 to $180.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the electric vehicle producer’s stock. TD Cowen’s price objective points to a potential downside of 26.95% from the stock’s current price.

Several other research firms also recently commented on TSLA. The Goldman Sachs Group reiterated a “neutral” rating and issued a $175.00 price target on shares of Tesla in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $230.00 price objective on shares of Tesla in a report on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. Canaccord Genuity Group raised their price objective on Tesla from $222.00 to $254.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $189.47.

Tesla Trading Up 6.5 %

TSLA stock traded up $15.13 during mid-day trading on Wednesday, reaching $246.39. The company had a trading volume of 164,907,094 shares, compared to its average volume of 97,060,453. The firm has a 50 day moving average of $180.89 and a 200 day moving average of $190.93. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29. The company has a market capitalization of $785.79 billion, a PE ratio of 62.85, a price-to-earnings-growth ratio of 4.91 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. On average, equities analysts predict that Tesla will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently modified their holdings of TSLA. Wyrmwood Management LLC purchased a new position in shares of Tesla in the 4th quarter worth $25,000. Lam Group Inc. purchased a new position in shares of Tesla in the fourth quarter valued at about $25,000. Mendota Financial Group LLC lifted its position in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla in the fourth quarter valued at about $37,000. Finally, Guardian Wealth Management Inc. bought a new stake in shares of Tesla in the fourth quarter worth about $47,000. 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.