Tesla (NASDAQ:TSLA) Given New $230.00 Price Target at Mizuho

Tesla (NASDAQ:TSLA) had its price objective increased by Mizuho from $180.00 to $230.00 in a report published on Friday morning, MarketBeat reports. They currently have a neutral rating on the electric vehicle producer’s stock.

A number of other equities research analysts have also weighed in on the company. Truist Financial reiterated a hold rating and issued a $162.00 price objective on shares of Tesla in a research report on Wednesday, July 3rd. Citigroup reiterated a neutral rating on shares of Tesla in a research report on Wednesday, June 12th. The Goldman Sachs Group lifted their price target on Tesla from $175.00 to $248.00 and gave the company a neutral rating in a research report on Wednesday, July 10th. New Street Research restated a buy rating and set a $235.00 price target on shares of Tesla in a research report on Tuesday, June 25th. Finally, Morgan Stanley restated an overweight rating and set a $310.00 price target on shares of Tesla in a research report on Wednesday, July 10th. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of Hold and an average price target of $201.58.

Tesla Price Performance

Shares of Tesla stock opened at $252.64 on Friday. The stock has a market capitalization of $805.72 billion, a P/E ratio of 64.45, a price-to-earnings-growth ratio of 6.20 and a beta of 2.31. Tesla has a one year low of $138.80 and a one year high of $299.29. The business’s 50 day simple moving average is $194.11 and its two-hundred day simple moving average is $190.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Analysts forecast that Tesla will post 1.85 EPS for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after buying an additional 3,795,748 shares during the period. Norges Bank purchased a new stake in shares of Tesla in the fourth quarter worth approximately $7,844,757,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Tesla by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after buying an additional 458,804 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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.