Tesla (NASDAQ:TSLA) Stock Rating Upgraded by New Street Research

Tesla (NASDAQ:TSLA) was upgraded by analysts at New Street Research from a “neutral” rating to a “buy” rating in a report issued on Monday, MarketBeat reports. The firm presently has a $460.00 price objective on the electric vehicle producer’s stock. New Street Research’s price objective would indicate a potential upside of 16.64% from the company’s previous close.

TSLA has been the subject of a number of other reports. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. UBS Group upped their target price on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research note on Monday, November 25th. Wells Fargo & Company boosted their price target on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Evercore ISI increased their price objective on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Finally, Truist Financial reaffirmed a “hold” rating and set a $360.00 price target on shares of Tesla in a research report on Thursday, January 2nd. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $295.69.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $394.36 on Monday. The company has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 108.04, a P/E/G ratio of 10.80 and a beta of 2.30. The firm’s 50 day simple moving average is $368.03 and its 200 day simple moving average is $277.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) 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 analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS. As a group, sell-side analysts forecast that Tesla will post 1.99 earnings per share for the current year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 514,886 shares of company stock valued at $169,393,831. 20.70% of the stock is owned by company insiders.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Asset Dedication LLC lifted its holdings in shares of Tesla by 8.1% during the second quarter. Asset Dedication LLC now owns 4,568 shares of the electric vehicle producer’s stock worth $904,000 after purchasing an additional 344 shares during the period. MainStreet Investment Advisors LLC bought a new position in shares of Tesla in the 2nd quarter worth about $360,000. Acadian Asset Management LLC lifted its stake in shares of Tesla by 39.9% in the 2nd quarter. Acadian Asset Management LLC now owns 61,681 shares of the electric vehicle producer’s stock valued at $12,202,000 after purchasing an additional 17,592 shares during the period. DDFG Inc bought a new position in shares of Tesla during the 2nd quarter worth approximately $221,000. Finally, Stonekeep Investments LLC acquired a new position in shares of Tesla during the 2nd quarter valued at $2,428,000. Institutional investors 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.