Tesla (NASDAQ:TSLA) Price Target Raised to $492.00

Tesla (NASDAQ:TSLA) had its target price boosted by Stifel Nicolaus from $411.00 to $492.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the electric vehicle producer’s stock.

A number of other research firms also recently issued reports on TSLA. Truist Financial reissued a “hold” rating and issued a $360.00 price target on shares of Tesla in a research note on Thursday, January 2nd. Piper Sandler boosted their target price on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Finally, Bank of America increased their target price on Tesla from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $295.69.

Tesla Trading Up 0.1 %

Shares of Tesla stock opened at $394.94 on Monday. The stock has a 50 day moving average of $370.78 and a 200 day moving average of $278.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 108.20, a PEG ratio of 10.80 and a beta of 2.30. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business 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 company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS. As a group, research analysts predict that Tesla will post 1.99 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock valued at $213,451,751 in the last three months. 20.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

Several large investors have recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in 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 worth $2,892,160,000 after buying an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP increased its stake in shares of Tesla by 347.7% during the second 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tesla by 13.7% during 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 worth $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Wellington Management Group LLP lifted its position in Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

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.