Tesla (NASDAQ:TSLA) PT Raised to $310.00 at Piper Sandler

Tesla (NASDAQ:TSLA) had its target price upped by analysts at Piper Sandler from $300.00 to $310.00 in a report issued on Wednesday, MarketBeat reports. The brokerage presently has an “overweight” rating on the electric vehicle producer’s stock. Piper Sandler’s price target would indicate a potential upside of 21.94% from the stock’s previous close.

A number of other research analysts have also commented on TSLA. Truist Financial reissued a “hold” rating and set a $215.00 price objective on shares of Tesla in a report on Wednesday, August 14th. Morgan Stanley reissued an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research report on Thursday, September 5th. Glj Research reaffirmed a “sell” rating and set a $24.86 price objective on shares of Tesla in a report on Thursday, September 5th. Wells Fargo & Company reissued an “underweight” rating and set a $120.00 target price on shares of Tesla in a research report on Monday, July 1st. Finally, William Blair initiated coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $209.90.

Tesla Trading Down 1.1 %

Shares of NASDAQ TSLA opened at $254.22 on Wednesday. The business has a 50 day simple moving average of $221.37 and a 200 day simple moving average of $197.56. Tesla has a 52 week low of $138.80 and a 52 week high of $271.00. The stock has a market cap of $812.14 billion, a price-to-earnings ratio of 64.85, a PEG ratio of 6.92 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.

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

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla 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 in the company, valued at $14,967,479.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 $14,967,479.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is currently owned by insiders.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. DDFG Inc raised its stake in shares of Tesla by 7.1% during the fourth quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock worth $265,000 after buying an additional 71 shares during the last quarter. Vantage Financial Partners LLC raised its position in shares of Tesla by 6.4% during the 4th quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock valued at $1,432,000 after acquiring an additional 346 shares during the last quarter. Gilbert & Cook Inc. lifted its stake in shares of Tesla by 8.7% in the 4th quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock valued at $3,357,000 after purchasing an additional 1,086 shares during the period. 9258 Wealth Management LLC boosted its position in shares of Tesla by 1.1% in the 4th quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock worth $1,532,000 after purchasing an additional 69 shares during the last quarter. Finally, Rollins Financial grew its stake in shares of Tesla by 10.2% during the fourth quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock worth $29,921,000 after purchasing an additional 11,191 shares during the period. Institutional investors and hedge funds 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.