Tesla (NASDAQ:TSLA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Tesla (NASDAQ:TSLA) had its target price raised by stock analysts at JPMorgan Chase & Co. from $115.00 to $150.00 in a research report issued to clients and investors on Friday,MarketScreener reports. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 65.10% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. Canaccord Genuity Group upped their price objective on shares of Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Argus reissued a “hold” rating on shares of Tesla in a report on Monday, June 9th. China Renaissance restated a “hold” rating and issued a $349.00 price objective on shares of Tesla in a research report on Friday, July 25th. Finally, The Goldman Sachs Group upped their target price on Tesla from $300.00 to $395.00 and gave the stock a “neutral” rating in a research note on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $343.43.

Tesla Trading Down 1.4%

Shares of NASDAQ:TSLA opened at $429.83 on Friday. The company has a market capitalization of $1.43 trillion, a PE ratio of 248.46, a PEG ratio of 14.93 and a beta of 2.08. Tesla has a 12-month low of $212.11 and a 12-month high of $488.54. The business has a 50 day moving average of $364.02 and a two-hundred day moving average of $321.99. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period last year, the firm earned $0.52 earnings per share. Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, analysts forecast that Tesla will post 2.56 EPS for the current year.

Insider Activity

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock valued at $77,360,462 in the last 90 days. Company insiders own 19.90% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after acquiring an additional 4,502,976 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Tesla by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after purchasing an additional 1,269,304 shares during the period. Norges Bank acquired a new stake in Tesla in the 2nd quarter valued at approximately $11,839,824,000. Goldman Sachs Group Inc. raised its position in Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Finally, Legal & General Group Plc lifted its stake in Tesla by 5.9% during the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock worth $6,424,705,000 after purchasing an additional 1,134,678 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.