Tesla (NASDAQ:TSLA) PT Raised to $156.00 at Guggenheim

Tesla (NASDAQ:TSLA) had its price target lifted by equities research analysts at Guggenheim from $153.00 to $156.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “sell” rating on the electric vehicle producer’s stock. Guggenheim’s price objective would indicate a potential downside of 39.77% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Mizuho lifted their target price on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Barclays decreased their price objective on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Wedbush reiterated an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research note on Thursday. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research note on Thursday. Finally, Royal Bank of Canada lifted their price target on shares of Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a report on Thursday. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $218.18.

Tesla Trading Up 21.2 %

TSLA stock traded up $45.37 during trading on Thursday, hitting $259.02. The company had a trading volume of 163,566,281 shares, compared to its average volume of 94,160,719. Tesla has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a 50 day simple moving average of $228.54 and a 200-day simple moving average of $206.41. The firm has a market capitalization of $827.48 billion, a P/E ratio of 72.81, a PEG ratio of 6.24 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

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

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The shares were 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 $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the 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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. 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 owned by company insiders.

Institutional Trading of Tesla

Large investors have recently bought and sold shares of the business. Bank & Trust Co purchased a new position in Tesla during the second quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Clean Yield Group boosted its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. increased its position in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.