Tesla (NASDAQ:TSLA) Price Target Raised to $471.00

Tesla (NASDAQ:TSLA) had its target price upped by Bank of America from $341.00 to $471.00 in a report published on Wednesday morning, Marketbeat Ratings reports. They currently have a neutral rating on the electric vehicle producer’s stock.

Several other equities research analysts have also commented on the company. Wall Street Zen raised Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Barclays reissued a “negative” rating and set a $350.00 price target (up previously from $275.00) on shares of Tesla in a research note on Thursday, October 16th. DZ Bank reissued a “sell” rating on shares of Tesla in a research note on Thursday, October 23rd. HSBC boosted their price target on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Finally, Wedbush reissued an “outperform” rating and set a $600.00 price target on shares of Tesla in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and eleven 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 $388.51.

Tesla Stock Up 3.7%

Tesla stock opened at $456.56 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla has a 1-year low of $214.25 and a 1-year high of $488.54. The company has a market cap of $1.52 trillion, a PE ratio of 304.37, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08. The stock’s 50 day moving average price is $410.52 and its 200 day moving average price is $347.47.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 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 analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 EPS. On average, sell-side analysts predict that Tesla will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TSLA. Chapman Financial Group LLC acquired a new stake in shares of Tesla during the 2nd quarter worth $26,000. Arcadia Investment Management Corp MI acquired a new position in Tesla in the first quarter valued at $27,000. Chelsea Counsel Co. boosted its holdings in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. Centennial Bank AR boosted its holdings in Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. Finally, LGT Financial Advisors LLC acquired a new position in Tesla in the second quarter valued at $29,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.