Tesla (NASDAQ:TSLA) Price Target Increased to $135.00 by Analysts at JPMorgan Chase & Co.

Tesla (NASDAQ:TSLA) had its price target lifted by JPMorgan Chase & Co. from $130.00 to $135.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an underweight rating on the electric vehicle producer’s stock.

Other analysts have also recently issued research reports about the company. New Street Research cut Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a research report on Wednesday, July 24th. KGI Securities reaffirmed a “neutral” rating and set a $236.00 target price on shares of Tesla in a research note on Thursday, July 25th. Morgan Stanley reiterated an “overweight” rating and issued a $310.00 target price on shares of Tesla in a report on Thursday, October 3rd. Glj Research reaffirmed a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $218.18.

Tesla Trading Up 21.9 %

Shares of TSLA opened at $260.48 on Thursday. The business’s 50-day moving average price is $228.54 and its 200 day moving average price is $206.41. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $832.14 billion, a P/E ratio of 73.17, a P/E/G ratio of 6.24 and a beta of 2.29. Tesla has a 1-year low of $138.80 and a 1-year high of $271.00.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Analysts expect that Tesla will post 1.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, 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 transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds have recently modified their holdings of TSLA. Integrated Advisors Network LLC increased its position in shares of Tesla by 1.5% during the third quarter. Integrated Advisors Network LLC now owns 47,344 shares of the electric vehicle producer’s stock valued at $12,387,000 after purchasing an additional 716 shares during the period. Fortitude Family Office LLC boosted its stake in Tesla by 1,145.5% during the third quarter. Fortitude Family Office LLC now owns 822 shares of the electric vehicle producer’s stock worth $215,000 after buying an additional 756 shares in the last quarter. Wells Trecaso Financial Group LLC increased its holdings in Tesla by 5.6% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 1,413 shares of the electric vehicle producer’s stock valued at $370,000 after buying an additional 75 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Tesla by 18.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 39,750 shares of the electric vehicle producer’s stock valued at $10,400,000 after buying an additional 6,224 shares in the last quarter. Finally, abrdn plc lifted its holdings in shares of Tesla by 9.5% during the 3rd quarter. abrdn plc now owns 2,828,248 shares of the electric vehicle producer’s stock worth $735,033,000 after acquiring an additional 244,648 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.