JPMorgan Chase & Co. Increases Tesla (NASDAQ:TSLA) Price Target to $135.00

Tesla (NASDAQ:TSLA) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $130.00 to $135.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the electric vehicle producer’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 36.81% from the stock’s previous close.

Several other brokerages have also commented on TSLA. Barclays decreased their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Wolfe Research started coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $254.00 price objective on shares of Tesla in a research report on Friday, September 13th. TD Cowen increased their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, William Blair started coverage on shares of Tesla in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $216.87.

Tesla Stock Performance

NASDAQ TSLA opened at $213.65 on Thursday. The company’s 50 day moving average is $228.54 and its 200-day moving average is $206.41. Tesla has a 12-month low of $138.80 and a 12-month high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm has a market cap of $682.53 billion, a P/E ratio of 60.01, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period last year, the company posted $0.78 EPS. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts predict that Tesla will post 1.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % 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 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

Hedge funds and other institutional investors have recently modified their holdings of the company. Integris Wealth Management LLC increased its position in Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc increased its position in Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares during the last quarter. Echo Wealth Management LLC increased its position in Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the last quarter. WASHINGTON TRUST Co increased its position in Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares during the last quarter. Finally, Bellevue Asset Management LLC increased its position in Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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.