Tesla (NASDAQ:TSLA) Receives Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Tesla (NASDAQ:TSLA) in a report released on Monday,Benzinga reports. The firm currently has a $400.00 price target on the electric vehicle producer’s stock.

Several other research analysts also recently issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research note on Friday, October 11th. Citigroup lowered their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price target on shares of Tesla in a research note on Wednesday, October 23rd. Finally, KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $230.18.

Tesla Stock Up 5.6 %

Tesla stock opened at $338.74 on Monday. The company has a market capitalization of $1.09 trillion, a P/E ratio of 92.81, a PEG ratio of 10.42 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $358.64. The stock has a 50-day simple moving average of $254.75 and a 200-day simple moving average of $222.13.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. Equities research analysts expect that Tesla will post 1.99 earnings per share for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,797 shares of company stock valued at $57,616,781. 20.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

A number of hedge funds and other institutional investors have recently made changes to their positions in TSLA. International Assets Investment Management LLC boosted its stake in Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after buying an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP lifted its holdings in shares of Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after acquiring an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC boosted its position in shares of Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Finally, Wellington Management Group LLP increased its position in Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after purchasing an additional 2,511,488 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.