BNP Paribas Boosts Tesla (NASDAQ:TSLA) Price Target to $313.00

Tesla (NASDAQ:TSLA) had its target price boosted by BNP Paribas from $307.00 to $313.00 in a report issued on Monday,MarketScreener reports. BNP Paribas’ price objective would indicate a potential downside of 27.08% from the company’s current price.

A number of other equities research analysts have also recently issued reports on TSLA. DZ Bank reiterated a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. Piper Sandler boosted their price target on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Canaccord Genuity Group lowered their price objective on Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Glj Research restated a “sell” rating on shares of Tesla in a report on Wednesday, October 22nd. Finally, Stifel Nicolaus upped their target price on Tesla from $483.00 to $508.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $398.92.

Tesla Trading Down 0.2%

NASDAQ:TSLA opened at $429.24 on Monday. The company has a market capitalization of $1.43 trillion, a P/E ratio of 286.16, a P/E/G ratio of 16.84 and a beta of 2.06. The stock’s 50 day moving average price is $433.94 and its 200 day moving average price is $370.52. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. Tesla has a 52 week low of $214.25 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. 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 net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the previous year, the company earned $0.72 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. On average, research analysts forecast 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 company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the firm’s 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 sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 82,606 shares of company stock worth $33,554,102. 19.90% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

Institutional investors have recently made changes to their positions in the business. Chapman Financial Group LLC bought a new position in Tesla in the 2nd quarter valued at $26,000. Chelsea Counsel Co. increased its stake in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. LGT Financial Advisors LLC bought a new position in shares of Tesla in the second quarter valued at about $29,000. Manning & Napier Advisors LLC acquired a new position in Tesla during the 3rd quarter worth about $29,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla during the 2nd quarter worth 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.