Tesla (NASDAQ:TSLA) Given New $153.00 Price Target at Guggenheim

Tesla (NASDAQ:TSLA) had its target price hoisted by Guggenheim from $134.00 to $153.00 in a research report report published on Friday morning, Benzinga reports. They currently have a sell rating on the electric vehicle producer’s stock.

Several other analysts also recently commented on TSLA. Truist Financial restated a hold rating and set a $215.00 target price on shares of Tesla in a report on Wednesday, August 14th. Piper Sandler reaffirmed an overweight rating and issued a $300.00 price objective on shares of Tesla in a research report on Monday, August 19th. Royal Bank of Canada reduced their target price on shares of Tesla from $227.00 to $224.00 and set an outperform rating for the company in a research note on Thursday, August 8th. Roth Mkm reissued a neutral rating and issued a $85.00 price target on shares of Tesla in a research note on Wednesday, July 24th. Finally, Canaccord Genuity Group upped their price objective on Tesla from $222.00 to $254.00 and gave the stock a buy rating in a research report on Wednesday, July 3rd. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $209.60.

Tesla Trading Down 1.5 %

NASDAQ TSLA opened at $226.78 on Friday. Tesla has a 12 month low of $138.80 and a 12 month high of $273.93. The stock has a 50-day simple moving average of $222.85 and a 200 day simple moving average of $194.75. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $723.25 billion, a PE ratio of 57.85, a P/E/G ratio of 6.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. Research analysts forecast that Tesla will post 1.75 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integris Wealth Management LLC raised its stake in shares of Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the period. Echo Wealth Management LLC grew its position in Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after buying an additional 44 shares in the last quarter. WASHINGTON TRUST Co grew its stake in Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after buying an additional 45 shares in the last quarter. Bellevue Asset Management LLC raised its position in Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares in the last quarter. Finally, Cypress Capital Group raised its holdings in shares of Tesla by 1.7% during the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after buying an additional 47 shares in the last quarter. Institutional investors 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.