Tesla (NASDAQ:TSLA) Price Target Raised to $508.00

Tesla (NASDAQ:TSLA) had its price objective raised by Stifel Nicolaus from $483.00 to $508.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the electric vehicle producer’s stock.

Several other equities analysts have also recently weighed in on the stock. DZ Bank reiterated a “sell” rating on shares of Tesla in a research report on Thursday, October 23rd. President Capital lifted their price target on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Melius Research set a $520.00 price objective on Tesla and gave the stock a “buy” rating in a research note on Monday, October 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. Finally, BNP Paribas Exane assumed coverage on shares of Tesla in a research report on Thursday, October 16th. They issued an “underperform” rating and a $307.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $394.31.

Tesla Price Performance

NASDAQ TSLA opened at $403.82 on Monday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla has a 1 year low of $214.25 and a 1 year high of $488.54. The company has a market cap of $1.34 trillion, a PE ratio of 269.21, a PEG ratio of 16.84 and a beta of 2.06. The stock’s 50-day moving average price is $433.12 and its two-hundred day moving average price is $363.32.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period last year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts predict that Tesla will post 2.56 EPS for the current year.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 in the last quarter. Insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently modified their holdings of the business. Relyea Zuckerberg Hanson LLC boosted its position in Tesla by 0.4% in the 3rd quarter. Relyea Zuckerberg Hanson LLC now owns 6,558 shares of the electric vehicle producer’s stock valued at $2,916,000 after buying an additional 23 shares during the period. Equita Financial Network Inc. raised its stake in shares of Tesla by 2.8% during the third quarter. Equita Financial Network Inc. now owns 855 shares of the electric vehicle producer’s stock valued at $380,000 after acquiring an additional 23 shares in the last quarter. VanderPol Investments L.L.C. boosted its holdings in shares of Tesla by 2.2% in the third quarter. VanderPol Investments L.L.C. now owns 1,070 shares of the electric vehicle producer’s stock valued at $464,000 after purchasing an additional 23 shares during the period. Resonant Capital Advisors LLC grew its stake in Tesla by 0.3% in the third quarter. Resonant Capital Advisors LLC now owns 8,577 shares of the electric vehicle producer’s stock worth $3,814,000 after purchasing an additional 23 shares in the last quarter. Finally, Cloud Capital Management LLC increased its holdings in Tesla by 1.1% during the 3rd quarter. Cloud Capital Management LLC now owns 2,076 shares of the electric vehicle producer’s stock worth $923,000 after purchasing an additional 23 shares during the period. 66.20% of the stock is owned by institutional investors.

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.