Dbs Bank Issues Positive Forecast for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA) had its target price hoisted by Dbs Bank from $300.00 to $450.00 in a research note published on Wednesday morning,MarketScreener reports.

Several other brokerages also recently commented on TSLA. UBS Group set a $290.00 price objective on shares of Tesla in a research note on Monday, June 30th. Bank of America increased their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Robert W. Baird reissued a “neutral” rating and issued a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Tesla in a research note on Sunday, August 17th. Finally, William Blair reaffirmed a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $307.46.

Tesla Stock Performance

NASDAQ TSLA opened at $425.86 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.37 trillion, a P/E ratio of 246.16, a P/E/G ratio of 14.71 and a beta of 2.06. Tesla has a 12-month low of $212.11 and a 12-month high of $488.54. The firm has a 50-day moving average price of $336.29 and a two-hundred day moving average price of $306.18.

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

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 over the last three months. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

A number of large investors have recently bought and sold shares of the stock. Chapman Financial Group LLC bought a new position in shares of Tesla in the second quarter valued at $26,000. LGT Financial Advisors LLC bought a new position in shares of Tesla during the second quarter valued at about $29,000. Cherry Tree Wealth Management LLC grew its position in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank grew its position in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Finally, CoreFirst Bank & Trust purchased a new stake in Tesla in the 2nd quarter valued at about $30,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.