Tesla (NASDAQ:TSLA) Stock Price Expected to Rise, President Capital Analyst Says

Tesla (NASDAQ:TSLA) had its price target upped by research analysts at President Capital from $373.00 to $529.00 in a report released on Wednesday,MarketScreener reports. The brokerage presently has a “buy” rating on the electric vehicle producer’s stock. President Capital’s price target indicates a potential upside of 20.20% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft raised their target price on Tesla from $435.00 to $440.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Wedbush restated an “outperform” rating and set a $600.00 price objective on shares of Tesla in a research report on Monday, October 20th. Piper Sandler raised their target price on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. HSBC raised their target price on shares of Tesla from $120.00 to $127.00 in a report on Monday, September 29th. Finally, UBS Group set a $247.00 price objective on Tesla in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and eleven have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $388.51.

Tesla Trading Down 4.6%

Tesla stock opened at $440.10 on Wednesday. The firm has a 50 day simple moving average of $408.19 and a 200-day simple moving average of $346.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The stock has a market capitalization of $1.46 trillion, a PE ratio of 293.40, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08. Tesla has a 12-month low of $214.25 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same period last year, the company posted $0.72 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts expect that Tesla will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was 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 of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 over the last quarter. Company insiders own 19.90% of the company’s stock.

Institutional Trading of Tesla

Several institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC boosted its holdings in shares of Tesla by 38.3% during the third quarter. Jennison Associates LLC now owns 10,909,666 shares of the electric vehicle producer’s stock worth $4,851,747,000 after purchasing an additional 3,021,550 shares during the period. Westfuller Advisors LLC acquired a new stake in shares of Tesla during the 3rd quarter valued at $60,000. Rossmore Private Capital boosted its stake in shares of Tesla by 17.3% during the 3rd quarter. Rossmore Private Capital now owns 10,350 shares of the electric vehicle producer’s stock valued at $4,603,000 after buying an additional 1,525 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Tesla by 3.4% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 101,283 shares of the electric vehicle producer’s stock valued at $45,043,000 after buying an additional 3,357 shares during the period. Finally, Lockheed Martin Investment Management Co. boosted its position in Tesla by 0.5% during the third quarter. Lockheed Martin Investment Management Co. now owns 80,500 shares of the electric vehicle producer’s stock valued at $35,800,000 after purchasing an additional 400 shares during the last quarter. 66.20% of the stock is currently 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.