Royal Bank Of Canada Reiterates “Buy” Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLAGet Free Report)‘s stock had its “buy” rating reaffirmed by research analysts at Royal Bank Of Canada in a research note issued on Monday,MarketScreener reports.

A number of other research firms have also issued reports on TSLA. Bank of America raised their target price on shares of Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Mizuho lifted their price objective on Tesla from $475.00 to $530.00 and gave the company an “outperform” rating in a report on Tuesday, December 16th. BNP Paribas Exane started coverage on Tesla in a report on Thursday, October 16th. They set an “underperform” rating and a $307.00 target price on the stock. Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Wednesday, October 22nd. Finally, CICC Research lifted their target price on shares of Tesla from $450.00 to $500.00 and gave the stock an “outperform” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $404.14.

View Our Latest Analysis on TSLA

Tesla Stock Down 0.4%

Shares of NASDAQ:TSLA opened at $481.20 on Monday. Tesla has a 52 week low of $214.25 and a 52 week high of $495.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The company has a market cap of $1.60 trillion, a PE ratio of 320.80, a price-to-earnings-growth ratio of 12.03 and a beta of 1.87. The firm has a 50 day simple moving average of $439.98 and a 200 day simple moving average of $381.14.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same period last year, the company earned $0.72 earnings per share. Tesla’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, research analysts expect that Tesla will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 56,820 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the transaction, the director directly owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $443.93, for a total value of $1,170,643.41. Following the completion of the sale, the chief financial officer directly owned 13,757 shares in the company, valued at approximately $6,107,145.01. This represents a 16.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 19.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Tesla during the second quarter worth about $11,839,824,000. Kingstone Capital Partners Texas LLC raised its holdings in Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after purchasing an additional 6,435,598 shares during the last quarter. Vanguard Group Inc. boosted its position in Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after acquiring an additional 4,502,976 shares during the last quarter. Amundi increased its holdings in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Finally, Holocene Advisors LP lifted its position in shares of Tesla by 132.2% during the 3rd quarter. Holocene Advisors LP now owns 6,157,000 shares of the electric vehicle producer’s stock valued at $2,738,141,000 after acquiring an additional 3,505,000 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Key Tesla News

Here are the key news stories impacting Tesla this week:

About Tesla

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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