Tesla (NASDAQ:TSLA) Price Target Raised to $450.00

Tesla (NASDAQ:TSLAFree Report) had its target price increased by Canaccord Genuity Group from $420.00 to $450.00 in a research report report published on Thursday, Marketbeat.com reports. The firm currently has a buy rating on the electric vehicle producer’s stock.

Several other equities analysts have also recently commented on the stock. Morgan Stanley set a $415.00 target price on shares of Tesla and gave the company an “equal weight” rating in a research note on Thursday, January 29th. Royal Bank Of Canada decreased their price target on shares of Tesla from $480.00 to $475.00 and set an “outperform” rating on the stock in a research report on Thursday. Bank of America initiated coverage on shares of Tesla in a report on Wednesday, March 4th. They set a “buy” rating and a $460.00 price objective on the stock. Jefferies Financial Group increased their target price on shares of Tesla from $300.00 to $350.00 and gave the company a “hold” rating in a research note on Monday, April 20th. Finally, TD Cowen decreased their target price on Tesla from $519.00 to $490.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Eighteen research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $398.45.

View Our Latest Stock Report on Tesla

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $376.30 on Thursday. The company has a quick ratio of 1.77, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $385.94 and its two-hundred day moving average is $420.67. The company has a market cap of $1.41 trillion, a P/E ratio of 345.23, a P/E/G ratio of 11.87 and a beta of 1.91. Tesla has a 12 month low of $259.63 and a 12 month high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $22.39 billion during the quarter, compared to analysts’ expectations of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.Tesla’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. On average, equities analysts expect that Tesla will post 1.36 EPS for the current year.

Insider Activity at Tesla

In other news, Director Kathleen Wilson-Thompson sold 25,809 shares of the stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $359.33, for a total value of $9,273,947.97. Following the completion of the transaction, the director directly owned 33,860 shares of the company’s stock, valued at approximately $12,166,913.80. This represents a 43.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,264 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $397.03, for a total value of $898,875.92. Following the transaction, the chief financial officer owned 18,106 shares of the company’s stock, valued at $7,188,625.18. This trade represents a 11.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 53,804 shares of company stock worth $20,865,598. Corporate insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several institutional investors and hedge funds have recently made changes to their positions in the company. Narwhal Capital Management boosted its stake in Tesla by 32.8% in the third quarter. Narwhal Capital Management now owns 9,516 shares of the electric vehicle producer’s stock worth $4,232,000 after purchasing an additional 2,350 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Tesla by 29.6% in the third quarter. Gamco Investors INC. ET AL now owns 32,576 shares of the electric vehicle producer’s stock valued at $14,487,000 after buying an additional 7,446 shares in the last quarter. Calamos Wealth Management LLC raised its holdings in shares of Tesla by 5.9% in the fourth quarter. Calamos Wealth Management LLC now owns 41,907 shares of the electric vehicle producer’s stock valued at $18,846,000 after buying an additional 2,341 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Tesla by 8.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 48,504 shares of the electric vehicle producer’s stock valued at $21,571,000 after buying an additional 3,935 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its position in Tesla by 26.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 18,032 shares of the electric vehicle producer’s stock worth $8,019,000 after buying an additional 3,724 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

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About Tesla

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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