Tesla (NASDAQ:TSLA) Given a $386.00 Price Target by Piper Jaffray Companies Analysts

Tesla (NASDAQ:TSLA) has been assigned a $386.00 target price by equities research analysts at Piper Jaffray Companies in a report released on Thursday, TipRanks reports. The brokerage presently has a “buy” rating on the electric vehicle producer’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 60.25% from the company’s previous close.

A number of other research analysts also recently weighed in on TSLA. JPMorgan Chase & Co. set a $200.00 price target on Tesla and gave the company a “sell” rating in a research note on Thursday, July 25th. Cowen set a $140.00 price target on Tesla and gave the company a “sell” rating in a research note on Wednesday, July 3rd. Roth Capital restated a “neutral” rating and issued a $238.00 price target on shares of Tesla in a research note on Monday, July 22nd. UBS Group set a $160.00 price target on Tesla and gave the company a “sell” rating in a research note on Thursday, July 25th. Finally, BidaskClub upgraded Tesla from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Eighteen research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $270.80.

TSLA stock traded down $1.26 during mid-day trading on Thursday, reaching $240.87. The company had a trading volume of 5,700,050 shares, compared to its average volume of 9,129,541. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.06 and a quick ratio of 0.71. The stock has a 50 day simple moving average of $229.75 and a two-hundred day simple moving average of $237.89. The company has a market capitalization of $43.15 billion, a price-to-earnings ratio of -42.11 and a beta of 0.54. Tesla has a 52 week low of $176.99 and a 52 week high of $379.49.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.55) by ($0.76). The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.44 billion. Tesla had a negative net margin of 2.64% and a negative return on equity of 11.42%. The firm’s revenue for the quarter was up 58.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($3.06) earnings per share. On average, equities analysts predict that Tesla will post -7.51 EPS for the current year.

In related news, CFO Zachary Kirkhorn sold 150 shares of Tesla stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $255.68, for a total transaction of $38,352.00. Following the completion of the sale, the chief financial officer now directly owns 9,962 shares of the company’s stock, valued at approximately $2,547,084.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average cost of $232.72 per share, with a total value of $232,720.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at approximately $232,720. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 15,450 shares of company stock valued at $3,565,073. 24.40% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its holdings in Tesla by 1.2% during the 2nd quarter. Baillie Gifford & Co. now owns 13,409,732 shares of the electric vehicle producer’s stock worth $2,996,539,000 after purchasing an additional 165,206 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Tesla by 67.2% during the 2nd quarter. Primecap Management Co. CA now owns 1,526,940 shares of the electric vehicle producer’s stock worth $341,210,000 after purchasing an additional 613,525 shares during the last quarter. ARK Investment Management LLC lifted its holdings in Tesla by 54.3% during the 2nd quarter. ARK Investment Management LLC now owns 1,163,182 shares of the electric vehicle producer’s stock worth $259,925,000 after purchasing an additional 409,332 shares during the last quarter. Northern Trust Corp lifted its holdings in Tesla by 0.5% during the 2nd quarter. Northern Trust Corp now owns 928,974 shares of the electric vehicle producer’s stock worth $207,588,000 after purchasing an additional 4,913 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Tesla by 1,892.8% during the 2nd quarter. SG Americas Securities LLC now owns 736,962 shares of the electric vehicle producer’s stock worth $164,682,000 after purchasing an additional 699,981 shares during the last quarter. 54.42% of the stock is owned by institutional investors and hedge funds.

About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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