Tesla (NASDAQ:TSLA) Price Target Raised to $442.00

Tesla (NASDAQ:TSLAGet Free Report) had its target price boosted by stock analysts at UBS Group from $364.00 to $442.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the electric vehicle producer’s stock. UBS Group’s price target suggests a potential upside of 8.91% from the company’s current price.

A number of other brokerages also recently commented on TSLA. HSBC reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, June 15th. Glj Research reissued a “sell” rating on shares of Tesla in a research note on Friday, June 12th. Canaccord Genuity Group increased their price objective on Tesla from $420.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Jefferies Financial Group upped their target price on Tesla from $350.00 to $375.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Tesla in a research note on Monday, June 29th. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $406.87.

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Tesla Price Performance

Shares of NASDAQ:TSLA traded up $11.79 during trading on Thursday, reaching $405.85. The company had a trading volume of 23,747,956 shares, compared to its average volume of 58,132,184. The firm’s fifty day moving average is $409.15 and its 200 day moving average is $409.76. The firm has a market capitalization of $1.52 trillion, a PE ratio of 371.81, a price-to-earnings-growth ratio of 14.81 and a beta of 1.80. Tesla has a twelve month low of $297.82 and a twelve month high of $498.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04.

Tesla (NASDAQ:TSLAGet Free Report) last announced its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The company had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same period in the previous year, the firm earned $0.27 earnings per share. Tesla’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, equities analysts forecast that Tesla will post 1.29 EPS for the current year.

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the transaction, the director owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the transaction, the chief financial officer directly owned 22,039 shares of the company’s stock, valued at $8,864,085.80. This represents a 10.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 32,015 shares of company stock worth $12,383,640. 19.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Networth Advisors LLC acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $26,000. Chapman Financial Group LLC acquired a new position in shares of Tesla during the second quarter valued at $26,000. Davidson Capital Management Inc. boosted its holdings in Tesla by 79.4% in the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 27 shares during the last quarter. Friedenthal Financial increased its position in Tesla by 66.7% in the first quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 30 shares during the period. Finally, Prism Advisors Inc. acquired a new position in Tesla during the 4th quarter valued at about $30,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Key Tesla News

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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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