Tesla (NASDAQ:TSLA) Price Target Raised to $530.00 at Mizuho

Tesla (NASDAQ:TSLA) had its price target hoisted by stock analysts at Mizuho from $475.00 to $530.00 in a note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the electric vehicle producer’s stock. Mizuho’s price objective indicates a potential upside of 12.30% from the company’s previous close.

A number of other brokerages have also recently weighed in on TSLA. President Capital raised their price target on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Cantor Fitzgerald set a $510.00 price target on shares of Tesla and gave the company an “overweight” rating in a report on Thursday, October 23rd. Industrial Alliance Securities set a $300.00 price objective on shares of Tesla in a research note on Monday, October 13th. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and upped their target price for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Finally, UBS Group reissued a “sell” rating on shares of Tesla in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $400.86.

Tesla Trading Down 0.7%

NASDAQ:TSLA opened at $471.94 on Tuesday. The stock has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 314.53, a PEG ratio of 15.50 and a beta of 1.87. Tesla has a 1 year low of $214.25 and a 1 year high of $488.54. The stock has a fifty day moving average price of $435.96 and a two-hundred day moving average price of $377.25. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS. As a group, sell-side analysts anticipate that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer directly owned 13,757 shares in the company, valued at $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the transaction, the director owned 1,391,615 shares in the company, valued at $627,145,215.90. The trade was a 3.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSLA. Norges Bank acquired a new stake in Tesla during the 2nd quarter valued at approximately $11,839,824,000. Kingstone Capital Partners Texas LLC grew its position in shares of Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after buying an additional 6,435,598 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Tesla by 1.8% in the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after buying an additional 4,502,976 shares during the last quarter. Amundi boosted its stake in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. Finally, Holocene Advisors LP grew its holdings in Tesla by 132.2% during the 3rd quarter. Holocene Advisors LP now owns 6,157,000 shares of the electric vehicle producer’s stock worth $2,738,141,000 after acquiring an additional 3,505,000 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other 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.