Tesla (NASDAQ:TSLA) Given New $470.00 Price Target at Deutsche Bank Aktiengesellschaft

Tesla (NASDAQ:TSLA) had its price objective raised by equities researchers at Deutsche Bank Aktiengesellschaft from $440.00 to $470.00 in a report released on Monday,MarketScreener reports. The firm currently has a “buy” rating on the electric vehicle producer’s stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 4.03% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Bank of America boosted their price target on shares of Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. President Capital boosted their price target on shares of Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. BNP Paribas Exane began coverage on shares of Tesla in a research note on Thursday, October 16th. They issued an “underperform” rating and a $307.00 target price for the company. Roth Capital set a $505.00 target price on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Finally, Cantor Fitzgerald set a $510.00 target price on shares of Tesla and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and eleven have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $391.08.

Tesla Stock Down 3.5%

TSLA stock opened at $451.81 on Monday. Tesla has a 12-month low of $214.25 and a 12-month high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.50 trillion, a price-to-earnings ratio of 301.74, a PEG ratio of 16.84 and a beta of 2.08. The company has a 50 day moving average of $412.95 and a two-hundred day moving average of $350.47.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. Tesla’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. On average, equities analysts anticipate that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Hedge funds have recently bought and sold shares of the company. Chapman Financial Group LLC purchased a new stake in Tesla during the second quarter valued at about $26,000. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the first quarter valued at about $27,000. Chelsea Counsel Co. increased its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the period. Centennial Bank AR increased its position in shares of Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after buying an additional 100 shares during the period. Finally, LGT Financial Advisors LLC bought a new stake in shares of Tesla during the second quarter valued at about $29,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.