Tesla (NASDAQ:TSLA) Price Target Raised to $360.00

Tesla (NASDAQ:TSLAFree Report) had its price objective hoisted by Barclays from $350.00 to $360.00 in a research report report published on Thursday morning, Marketbeat Ratings reports. They currently have an equal weight rating on the electric vehicle producer’s stock.

A number of other equities research analysts also recently issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft raised their price target on Tesla from $470.00 to $500.00 and gave the company a “buy” rating in a report on Friday, December 19th. Glj Research restated a “sell” rating and issued a $25.28 price objective (up from $19.05) on shares of Tesla in a research report on Wednesday, January 7th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. Finally, William Blair reissued a “market perform” rating on shares of Tesla in a report on Friday, January 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $410.77.

Check Out Our Latest Report on TSLA

Tesla Price Performance

TSLA stock opened at $449.06 on Thursday. The firm has a 50 day moving average of $444.81 and a 200-day moving average of $403.99. The firm has a market capitalization of $1.49 trillion, a P/E ratio of 299.37, a price-to-earnings-growth ratio of 7.66 and a beta of 1.83. Tesla has a 12 month low of $214.25 and a 12 month high of $498.83. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results 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. The business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. As a group, sell-side analysts predict that Tesla will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was 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 owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kimbal Musk sold 56,820 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the transaction, the director owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. The trade was a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 119,457 shares of company stock valued at $53,501,145 over the last three months. Insiders own 19.90% of the company’s stock.

Institutional Trading of Tesla

Institutional investors have recently made changes to their positions in the stock. Relyea Zuckerberg Hanson LLC lifted its holdings in Tesla by 0.4% in the third quarter. Relyea Zuckerberg Hanson LLC now owns 6,558 shares of the electric vehicle producer’s stock worth $2,916,000 after buying an additional 23 shares during the period. Equita Financial Network Inc. raised its position in shares of Tesla by 2.8% in the 3rd quarter. Equita Financial Network Inc. now owns 855 shares of the electric vehicle producer’s stock worth $380,000 after acquiring an additional 23 shares in the last quarter. VanderPol Investments L.L.C. lifted its stake in shares of Tesla by 2.2% in the 3rd quarter. VanderPol Investments L.L.C. now owns 1,070 shares of the electric vehicle producer’s stock valued at $464,000 after purchasing an additional 23 shares during the period. Resonant Capital Advisors LLC boosted its position in shares of Tesla by 0.3% during the third quarter. Resonant Capital Advisors LLC now owns 8,577 shares of the electric vehicle producer’s stock valued at $3,814,000 after purchasing an additional 23 shares in the last quarter. Finally, Cloud Capital Management LLC grew its stake in Tesla by 1.1% in the third quarter. Cloud Capital Management LLC now owns 2,076 shares of the electric vehicle producer’s stock worth $923,000 after purchasing an additional 23 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla News Roundup

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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