Tesla (NASDAQ:TSLA) Given “Outperform” Rating at Wedbush

Wedbush restated their outperform rating on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $300.00 price objective on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other reports. Mizuho lifted their price objective on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. HSBC restated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Royal Bank of Canada increased their price objective on Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a research report on Thursday. Jefferies Financial Group boosted their target price on Tesla from $165.00 to $195.00 and gave the company a “hold” rating in a report on Monday. Finally, Piper Sandler increased their price target on Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $218.18.

Tesla Trading Up 21.9 %

NASDAQ:TSLA opened at $260.48 on Thursday. The company has a market capitalization of $832.14 billion, a PE ratio of 73.17, a P/E/G ratio of 6.24 and a beta of 2.29. Tesla has a 52-week low of $138.80 and a 52-week high of $271.00. The stock’s 50 day moving average price is $228.54 and its 200 day moving average price is $206.41. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Tesla will post 1.75 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated 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 directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 20.70% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Tesla during the first quarter worth $79,000. Wealthcare Advisory Partners LLC boosted its stake in Tesla by 3.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 14,655 shares of the electric vehicle producer’s stock worth $2,576,000 after buying an additional 501 shares during the last quarter. Register Financial Advisors LLC increased its stake in shares of Tesla by 32.7% during the 1st quarter. Register Financial Advisors LLC now owns 1,677 shares of the electric vehicle producer’s stock valued at $295,000 after acquiring an additional 413 shares during the last quarter. Kathmere Capital Management LLC lifted its holdings in shares of Tesla by 9.2% during the 1st quarter. Kathmere Capital Management LLC now owns 1,177 shares of the electric vehicle producer’s stock worth $207,000 after acquiring an additional 99 shares during the period. Finally, Astoria Portfolio Advisors LLC. boosted its position in shares of Tesla by 4.3% in the first quarter. Astoria Portfolio Advisors LLC. now owns 1,613 shares of the electric vehicle producer’s stock worth $260,000 after acquiring an additional 67 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other 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.