Tesla (NASDAQ:TSLA) Price Target Raised to $430.00

Tesla (NASDAQ:TSLA) had its price objective raised by Morgan Stanley from $400.00 to $430.00 in a report issued on Monday morning,Benzinga reports. The firm currently has an overweight rating on the electric vehicle producer’s stock.

Several other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Canaccord Genuity Group raised their target price on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Wedbush reaffirmed an “outperform” rating and set a $400.00 target price on shares of Tesla in a research report on Monday, November 18th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Cantor Fitzgerald lifted their price objective on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Nine 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 stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $299.33.

Tesla Trading Up 8.0 %

NASDAQ TSLA opened at $428.22 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla has a 52 week low of $138.80 and a 52 week high of $488.54. The business has a 50 day moving average price of $382.71 and a 200-day moving average price of $284.69. The company has a market cap of $1.37 trillion, a price-to-earnings ratio of 117.32, a P/E/G ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the business posted $0.53 EPS. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities analysts expect that Tesla will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 621,886 shares of company stock worth $213,451,751. Insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Abich Financial Wealth Management LLC lifted its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter worth approximately $29,000. Clean Yield Group lifted its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the 3rd quarter valued at $35,000. Finally, M&R Capital Management Inc. grew its holdings in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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.