Jefferies Financial Group Forecasts Strong Price Appreciation for Tesla (NASDAQ:TSLA) Stock

Tesla (NASDAQ:TSLA) had its price target increased by Jefferies Financial Group from $195.00 to $300.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a hold rating on the electric vehicle producer’s stock.

TSLA has been the topic of several other research reports. Canaccord Genuity Group lifted their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Piper Sandler increased their price objective on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Wedbush lifted their target price on shares of Tesla from $300.00 to $400.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Wolfe Research assumed coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Nine 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 stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $228.24.

Tesla Stock Performance

Shares of Tesla stock traded up $11.16 during trading hours on Thursday, hitting $322.34. 57,360,035 shares of the company were exchanged, compared to its average volume of 95,770,594. Tesla has a 1 year low of $138.80 and a 1 year high of $358.64. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average of $250.10 and a 200-day moving average of $219.58. The stock has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 87.15, a P/E/G ratio of 10.73 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 EPS. As a group, analysts expect that Tesla will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 188,797 shares of company stock worth $57,616,781. 20.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC grew its position in shares of Tesla by 12.3% in the third quarter. IHT Wealth Management LLC now owns 42,640 shares of the electric vehicle producer’s stock valued at $11,110,000 after purchasing an additional 4,663 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of Tesla by 9.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 90,300 shares of the electric vehicle producer’s stock valued at $23,625,000 after acquiring an additional 7,791 shares during the last quarter. Investment Management Corp of Ontario boosted its stake in Tesla by 13.9% in the 3rd quarter. Investment Management Corp of Ontario now owns 334,975 shares of the electric vehicle producer’s stock worth $87,640,000 after purchasing an additional 40,913 shares during the period. Iron Gate Global Advisors LLC lifted its stake in Tesla by 24.8% in the 3rd quarter. Iron Gate Global Advisors LLC now owns 1,831 shares of the electric vehicle producer’s stock valued at $479,000 after purchasing an additional 364 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of Tesla by 15.0% during the third quarter. Itau Unibanco Holding S.A. now owns 32,146 shares of the electric vehicle producer’s stock worth $8,410,000 after purchasing an additional 4,189 shares during the period. 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.