Tesla (NASDAQ:TSLA) Given New $287.00 Price Target at Stifel Nicolaus

Tesla (NASDAQ:TSLA) had its target price raised by Stifel Nicolaus from $265.00 to $287.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the electric vehicle producer’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 7.27% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company boosted their price target on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and boosted their price target for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Guggenheim boosted their price target on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 target price on shares of Tesla in a research report on Wednesday. Finally, StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Thursday. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $219.00.

Tesla Stock Up 2.7 %

NASDAQ TSLA traded up $7.07 during trading on Friday, reaching $267.55. 103,712,259 shares of the company’s stock were exchanged, compared to its average volume of 94,388,641. The stock has a market cap of $854.73 billion, a P/E ratio of 74.66, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a 50 day moving average price of $228.54 and a two-hundred day moving average price of $206.41. Tesla has a 1 year low of $138.80 and a 1 year high of $271.00.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the business earned $0.53 EPS. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Tesla will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s 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 owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently modified their holdings of TSLA. International Assets Investment Management LLC grew its holdings in shares of Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares in the last quarter. Clean Energy Transition LLP lifted its stake in shares of Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after purchasing an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Tesla by 236.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after purchasing an additional 1,479,378 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.