Tesla (NASDAQ:TSLA) PT Raised to $300.00

Tesla (NASDAQ:TSLA) had its target price hoisted by Wedbush from $275.00 to $300.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. Wedbush currently has an outperform rating on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other research reports. Roth Mkm reiterated a neutral rating and issued a $85.00 price objective on shares of Tesla in a research note on Wednesday, April 24th. Citigroup reiterated a neutral rating on shares of Tesla in a research report on Wednesday, June 12th. Oppenheimer reissued a market perform rating on shares of Tesla in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Tesla from $123.00 to $136.00 and gave the company a hold rating in a report on Thursday, April 25th. Finally, Barclays lowered their price target on Tesla from $225.00 to $180.00 and set an equal weight rating on the stock in a report on Wednesday, April 17th. Seven analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of Hold and a consensus target price of $192.71.

Tesla Trading Up 2.1 %

NASDAQ TSLA opened at $251.52 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $184.10 and a two-hundred day moving average of $191.70. The stock has a market capitalization of $802.15 billion, a PE ratio of 64.16, a price-to-earnings-growth ratio of 6.11 and a beta of 2.31. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. As a group, research analysts expect that Tesla will post 1.86 EPS for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after buying an additional 3,795,748 shares during the last quarter. Norges Bank bought a new stake in Tesla during the fourth quarter valued at $7,844,757,000. Morgan Stanley grew its position in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Tesla by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after buying an additional 458,804 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 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.