Tesla (NASDAQ:TSLA) had its price objective boosted by research analysts at Argus from $396.00 to $556.00 in a research report issued on Tuesday, January 7th, The Fly reports. The firm currently has a “buy” rating on the electric vehicle producer’s stock. Argus’ price objective would indicate a potential upside of 11.27% from the stock’s previous close.
Several other brokerages have also recently issued reports on TSLA. Cowen raised their target price on shares of Tesla from $190.00 to $210.00 and gave the stock an “underperform” rating in a report on Monday, December 30th. Nomura reiterated a “neutral” rating on shares of Tesla in a research report on Thursday, October 3rd. Canaccord Genuity upped their target price on shares of Tesla from $375.00 to $515.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. JPMorgan Chase & Co. set a $240.00 target price on shares of Tesla and gave the company a “sell” rating in a report on Monday, January 6th. Finally, Oppenheimer upped their target price on shares of Tesla from $356.00 to $385.00 in a report on Thursday, October 24th. Nineteen investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Tesla currently has an average rating of “Hold” and a consensus target price of $338.78.
Shares of TSLA stock traded down $18.80 during mid-day trading on Tuesday, reaching $499.70. 9,516,261 shares of the company’s stock traded hands, compared to its average volume of 14,797,238. The firm has a market capitalization of $91.37 billion, a PE ratio of -87.36, a price-to-earnings-growth ratio of 4.87 and a beta of 0.64. Tesla has a 12 month low of $176.99 and a 12 month high of $547.41. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.73 and a current ratio of 1.08. The firm has a 50 day moving average price of $403.12 and a two-hundred day moving average price of $294.14.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $1.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $2.28. The company had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.48 billion. Tesla had a negative net margin of 3.39% and a negative return on equity of 13.42%. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.90 EPS. As a group, equities analysts expect that Tesla will post -4.3 earnings per share for the current fiscal year.
In related news, insider Jerome M. Guillen sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $427.47, for a total value of $854,940.00. Following the completion of the transaction, the insider now directly owns 11,236 shares in the company, valued at approximately $4,803,052.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 2,366 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $313.25, for a total transaction of $741,149.50. Following the completion of the transaction, the senior vice president now owns 3,288 shares of the company’s stock, valued at $1,029,966. The disclosure for this sale can be found here. Insiders have sold 98,531 shares of company stock valued at $33,791,753 over the last quarter. Company insiders own 24.40% of the company’s stock.
Several hedge funds have recently modified their holdings of TSLA. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Tesla by 102.6% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,448,917 shares of the electric vehicle producer’s stock valued at $349,001,000 after acquiring an additional 733,764 shares during the period. Primecap Management Co. CA grew its stake in Tesla by 67.2% in 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 acquiring an additional 613,525 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Tesla in the second quarter worth $136,994,000. Hillhouse Capital Advisors LTD. purchased a new position in shares of Tesla in the second quarter worth $116,329,000. Finally, APG Asset Management N.V. raised its holdings in shares of Tesla by 198.3% in the second quarter. APG Asset Management N.V. now owns 543,690 shares of the electric vehicle producer’s stock worth $106,685,000 after buying an additional 361,429 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.
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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