Tesla (NASDAQ:TSLA) Price Target Raised to $530.00

Tesla (NASDAQ:TSLA) had its target price boosted by Mizuho from $475.00 to $530.00 in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The firm currently has an outperform rating on the electric vehicle producer’s stock.

A number of other analysts also recently commented on TSLA. Glj Research reiterated a “sell” rating on shares of Tesla in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a report on Thursday, October 30th. President Capital raised their price objective on Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Morgan Stanley set a $425.00 target price on Tesla and gave the stock an “equal weight” rating in a research report on Sunday, December 7th. Finally, Dbs Bank raised Tesla to a “hold” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $402.25.

Tesla Stock Up 3.4%

Shares of TSLA stock opened at $483.37 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The stock has a market cap of $1.61 trillion, a PE ratio of 322.25, a price-to-earnings-growth ratio of 11.68 and a beta of 1.87. The business’s fifty day moving average is $438.62 and its 200-day moving average is $379.59. Tesla has a 1 year low of $214.25 and a 1 year high of $495.28.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter last year, the business posted $0.72 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts expect that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the transaction, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the transaction, the director owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently modified their holdings of TSLA. Brighton Jones LLC raised its position in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares in the last quarter. Bison Wealth LLC lifted its stake in shares of Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares during the last quarter. Tocqueville Asset Management L.P. boosted its holdings in Tesla by 20.6% in the first quarter. Tocqueville Asset Management L.P. now owns 1,371 shares of the electric vehicle producer’s stock worth $355,000 after purchasing an additional 234 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. increased its position in Tesla by 518.2% during the first quarter. Northwest & Ethical Investments L.P. now owns 1,700 shares of the electric vehicle producer’s stock worth $440,000 after buying an additional 1,425 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.