Brokerages Set Tesla, Inc. (NASDAQ:TSLA) Target Price at $287.48

Shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) have been given an average rating of “Hold” by the forty-one ratings firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and eighteen have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $288.18.

Several equities research analysts have recently issued reports on TSLA shares. Bank of America raised their price target on Tesla from $300.00 to $316.67 and gave the company a “neutral” rating in a research report on Thursday, July 21st. Mizuho lifted their target price on Tesla from $383.33 to $391.67 and gave the stock a “buy” rating in a research report on Thursday, July 21st. Needham & Company LLC raised Tesla from an “underperform” rating to a “hold” rating in a research report on Thursday, September 15th. The Goldman Sachs Group decreased their target price on Tesla from $400.00 to $333.33 and set a “buy” rating on the stock in a research report on Wednesday, June 1st. Finally, Wolfe Research raised Tesla from a “peer perform” rating to an “outperform” rating and set a $360.00 target price on the stock in a research report on Tuesday, September 6th.

Tesla Stock Down 4.1 %

TSLA stock opened at $288.59 on Friday. The stock has a market capitalization of $896.95 billion, a price-to-earnings ratio of 104.31, a price-to-earnings-growth ratio of 2.76 and a beta of 2.18. The company has a 50-day moving average of $287.16 and a two-hundred day moving average of $280.14. Tesla has a 52-week low of $206.86 and a 52-week high of $414.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.43 and a quick ratio of 1.06.

Tesla (NASDAQ:TSLAGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The electric vehicle producer reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.16. The company had revenue of $16.93 billion for the quarter, compared to the consensus estimate of $16.92 billion. Tesla had a return on equity of 29.04% and a net margin of 14.17%. The firm’s revenue was up 41.6% compared to the same quarter last year. During the same period last year, the business posted $0.34 earnings per share. As a group, equities research analysts anticipate that Tesla will post 3.58 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Zachary Kirkhorn sold 3,750 shares of Tesla stock in a transaction on Monday, September 12th. The shares were sold at an average price of $300.59, for a total transaction of $1,127,212.50. Following the completion of the sale, the chief financial officer now owns 192,777 shares of the company’s stock, valued at approximately $57,946,838.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Zachary Kirkhorn sold 3,750 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $300.59, for a total value of $1,127,212.50. Following the completion of the transaction, the chief financial officer now owns 192,777 shares of the company’s stock, valued at approximately $57,946,838.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 8,750 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $904.00, for a total transaction of $7,910,000.00. Following the completion of the transaction, the director now directly owns 1,800 shares of the company’s stock, valued at approximately $1,627,200. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,750 shares of company stock valued at $39,835,410. Company insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Tesla by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 65,171,982 shares of the electric vehicle producer’s stock valued at $70,229,327,000 after acquiring an additional 2,723,410 shares in the last quarter. State Street Corp lifted its position in Tesla by 4.0% in the 4th quarter. State Street Corp now owns 32,465,720 shares of the electric vehicle producer’s stock valued at $34,309,124,000 after acquiring an additional 1,235,579 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Tesla by 10.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,233,086 shares of the electric vehicle producer’s stock valued at $9,584,845,000 after acquiring an additional 1,317,687 shares in the last quarter. Geode Capital Management LLC lifted its position in Tesla by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 13,571,554 shares of the electric vehicle producer’s stock valued at $14,302,749,000 after acquiring an additional 401,615 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Tesla by 2.5% in the 1st quarter. Northern Trust Corp now owns 8,774,479 shares of the electric vehicle producer’s stock valued at $9,455,380,000 after acquiring an additional 216,282 shares in the last quarter. Institutional investors and hedge funds own 43.01% of the company’s stock.

About Tesla

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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.

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