Tesla (NASDAQ:TSLA) PT Raised to $1,050.00

Tesla (NASDAQ:TSLA) had its target price raised by JMP Securities from $1,001.00 to $1,050.00 in a report published on Tuesday, The Fly reports. The firm currently has an outperform rating on the electric vehicle producer’s stock.

Several other analysts also recently weighed in on the company. Credit Suisse Group raised their target price on Tesla from $580.00 to $700.00 and gave the company a neutral rating in a research note on Thursday, April 30th. Goldman Sachs Group reaffirmed a neutral rating on shares of Tesla in a research report on Friday, June 12th. BidaskClub cut shares of Tesla from a strong-buy rating to a buy rating in a research report on Friday, June 5th. DZ Bank reissued a sell rating on shares of Tesla in a report on Thursday, April 30th. Finally, Royal Bank of Canada raised their target price on shares of Tesla from $380.00 to $615.00 and gave the stock an underperform rating in a report on Thursday, April 30th. Eleven equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $622.06.

Shares of NASDAQ TSLA opened at $1,079.81 on Tuesday. Tesla has a 12-month low of $211.00 and a 12-month high of $1,027.48. The company has a market cap of $200.16 billion, a P/E ratio of -1,213.27 and a beta of 1.14. The company has a current ratio of 1.24, a quick ratio of 0.87 and a debt-to-equity ratio of 1.07. The stock has a fifty day moving average price of $895.52 and a 200 day moving average price of $676.46.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, April 29th. The electric vehicle producer reported $1.24 earnings per share for the quarter, beating the consensus estimate of ($0.36) by $1.60. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.85 billion. Tesla had a negative return on equity of 1.86% and a negative net margin of 0.55%. The company’s revenue was up 31.8% on a year-over-year basis. During the same period last year, the firm earned ($2.90) earnings per share. On average, sell-side analysts forecast that Tesla will post -0.56 EPS for the current fiscal year.

In other news, SVP Andrew D. Baglino sold 300 shares of Tesla stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $623.63, for a total transaction of $187,089.00. Following the sale, the senior vice president now directly owns 4,445 shares in the company, valued at approximately $2,772,035.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Zachary Kirkhorn sold 150 shares of Tesla stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $772.92, for a total transaction of $115,938.00. Following the sale, the chief financial officer now owns 11,282 shares in the company, valued at $8,720,083.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,198 shares of company stock worth $15,698,572. 23.00% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in TSLA. Victory Capital Management Inc. boosted its position in Tesla by 5.6% in the fourth quarter. Victory Capital Management Inc. now owns 112,034 shares of the electric vehicle producer’s stock valued at $46,867,000 after buying an additional 5,919 shares in the last quarter. Assetmark Inc. raised its stake in shares of Tesla by 1,100.0% during the fourth quarter. Assetmark Inc. now owns 72 shares of the electric vehicle producer’s stock worth $30,000 after buying an additional 66 shares during the last quarter. Mutual Advisors LLC bought a new stake in shares of Tesla during the fourth quarter worth approximately $497,000. CI Investments Inc. raised its stake in shares of Tesla by 924.0% during the fourth quarter. CI Investments Inc. now owns 2,304 shares of the electric vehicle producer’s stock worth $964,000 after buying an additional 2,079 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Tesla by 3.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 17,624 shares of the electric vehicle producer’s stock worth $7,372,000 after buying an additional 609 shares during the last quarter. Hedge funds and other institutional investors own 50.40% of the company’s stock.

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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