Tesla (NASDAQ:TSLA) Price Target Raised to $345.00

Tesla (NASDAQ:TSLA) had its target price boosted by The Goldman Sachs Group from $250.00 to $345.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the electric vehicle producer’s stock.

TSLA has been the subject of several other research reports. Jefferies Financial Group upped their price target on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. HSBC restated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Wedbush restated an “outperform” rating and issued a $400.00 price target on shares of Tesla in a research report on Monday, November 18th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $257.36.

Tesla Trading Up 4.3 %

Tesla stock opened at $436.23 on Wednesday. Tesla has a 12-month low of $138.80 and a 12-month high of $436.30. The stock has a market capitalization of $1.40 trillion, a PE ratio of 119.52, a price-to-earnings-growth ratio of 10.52 and a beta of 2.36. The firm has a 50 day simple moving average of $301.74 and a 200-day simple moving average of $246.51. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

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

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This represents a 2.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 522,886 shares of company stock worth $171,393,831. 20.70% of the stock is owned by insiders.

Institutional Trading of Tesla

A number of hedge funds have recently bought and sold shares of the stock. Connable Office Inc. boosted its holdings in Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after purchasing an additional 38 shares during the period. Community Bank N.A. lifted its holdings in shares of Tesla by 4.4% during the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after acquiring an additional 38 shares during the period. Holistic Financial Partners lifted its holdings in shares of Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after acquiring an additional 40 shares during the period. Integris Wealth Management LLC lifted its holdings in shares of Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the period. Finally, Sherrill & Hutchins Financial Advisory Inc lifted its holdings in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after acquiring an additional 43 shares during the period. 66.20% of the stock is owned by 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.