Tesla (NASDAQ:TSLA) Price Target Raised to $127.00

Tesla (NASDAQ:TSLA) had its target price lifted by stock analysts at HSBC from $120.00 to $127.00 in a report issued on Monday,MarketScreener reports. HSBC’s price target suggests a potential downside of 71.15% from the stock’s previous close.

TSLA has been the subject of a number of other reports. Piper Sandler lifted their target price on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, September 5th. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. UBS Group reiterated a “sell” rating on shares of Tesla in a research note on Monday, September 22nd. Finally, Guggenheim reissued a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $337.15.

Tesla Stock Down 0.7%

Shares of TSLA opened at $440.27 on Monday. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 254.76, a P/E/G ratio of 15.36 and a beta of 2.06. Tesla has a 12-month low of $212.11 and a 12-month high of $488.54. The firm has a fifty day moving average price of $354.34 and a 200-day moving average price of $316.75. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same period last year, the firm earned $0.52 earnings per share. Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. Equities research analysts expect that Tesla will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,606 shares of company stock valued at $77,360,462. Insiders own 19.90% of the company’s stock.

Institutional Trading of Tesla

Large investors have recently made changes to their positions in the business. Chapman Financial Group LLC purchased a new stake in Tesla in the 2nd quarter worth approximately $26,000. LGT Financial Advisors LLC acquired a new position in shares of Tesla in the second quarter worth about $29,000. Cherry Tree Wealth Management LLC grew its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank increased its stake in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Finally, CoreFirst Bank & Trust purchased a new position in Tesla during the second quarter worth approximately $30,000. 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.