Tesla (NASDAQ:TSLA) Price Target Raised to $226.00

Tesla (NASDAQ:TSLA) had its target price raised by stock analysts at UBS Group from $197.00 to $226.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “sell” rating on the electric vehicle producer’s stock. UBS Group’s price target suggests a potential downside of 35.39% from the company’s current price.

A number of other research analysts have also weighed in on the stock. Truist Financial raised their price target on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Bank of America lifted their price target on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 target price on shares of Tesla in a research note on Wednesday, October 23rd. Piper Sandler boosted their target price on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Canaccord Genuity Group upped their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $231.06.

Tesla Stock Performance

Shares of Tesla stock traded down $2.79 during trading on Monday, hitting $349.77. 19,615,025 shares of the company’s stock were exchanged, compared to its average volume of 95,467,813. Tesla has a 52-week low of $138.80 and a 52-week high of $361.93. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 95.83, a PEG ratio of 11.45 and a beta of 2.29. The business has a 50-day simple moving average of $264.07 and a 200-day simple moving average of $226.79.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. 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 prior year, the firm posted $0.53 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts forecast that Tesla will post 1.99 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. World Investment Advisors LLC lifted its holdings in shares of Tesla by 43.7% in the 3rd quarter. World Investment Advisors LLC now owns 21,219 shares of the electric vehicle producer’s stock valued at $5,552,000 after purchasing an additional 6,449 shares during the last quarter. Eaton Financial Holdings Company LLC acquired a new stake in Tesla during the 3rd quarter worth approximately $396,000. Anchor Investment Management LLC increased its stake in Tesla by 12.9% in the 3rd quarter. Anchor Investment Management LLC now owns 9,908 shares of the electric vehicle producer’s stock valued at $2,592,000 after buying an additional 1,132 shares during the period. Wealthquest Corp lifted its holdings in shares of Tesla by 5.7% in the 3rd quarter. Wealthquest Corp now owns 1,530 shares of the electric vehicle producer’s stock valued at $395,000 after buying an additional 82 shares during the period. Finally, SkyView Investment Advisors LLC grew its stake in shares of Tesla by 31.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 5,579 shares of the electric vehicle producer’s stock worth $1,460,000 after purchasing an additional 1,334 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.