Tesla, Inc. (NASDAQ:TSLA) Receives $363.03 Average PT from Brokerages

Shares of Tesla, Inc. (NASDAQ:TSLA) have been given an average rating of “Hold” by the forty-five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation, twenty-one have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $363.5419.

Several brokerages have recently issued reports on TSLA. Industrial Alliance Securities set a $300.00 price objective on shares of Tesla in a research note on Monday, October 13th. Melius Research set a $520.00 price objective on shares of Tesla and gave the company a “buy” rating in a research note on Monday, October 13th. Wedbush boosted their price objective on shares of Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. Piper Sandler boosted their price objective on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. Finally, BNP Paribas Exane began coverage on shares of Tesla in a research note on Thursday. They set an “underperform” rating and a $307.00 price objective for the company.

Tesla Trading Up 2.5%

Shares of TSLA opened at $439.31 on Wednesday. The stock has a fifty day moving average of $387.54 and a two-hundred day moving average of $334.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market capitalization of $1.46 trillion, a PE ratio of 253.94, a price-to-earnings-growth ratio of 15.79 and a beta of 2.08. Tesla has a fifty-two week low of $212.11 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period in the prior year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. As a group, analysts forecast that Tesla will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,606 shares of company stock valued at $75,588,902. Company insiders own 19.90% of the company’s stock.

Institutional Trading of Tesla

Institutional investors have recently added to or reduced their stakes in the business. Cherry Tree Wealth Management LLC lifted its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank increased its stake in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 42 shares during the period. Chapman Financial Group LLC acquired a new position in shares of Tesla during the second quarter valued at approximately $26,000. Newton One Investments LLC grew its position in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new position in Tesla in the first quarter worth approximately $27,000. 66.20% of the stock is 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.