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

Tesla (NASDAQ:TSLAGet Free Report) had its target price hoisted by investment analysts at UBS Group from $364.00 to $442.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently 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 stock’s current price.

TSLA has been the subject of a number of other research reports. China Renaissance dropped their price objective on shares of Tesla from $382.00 to $372.00 and set a “hold” rating for the company in a report on Monday, April 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tesla in a research report on Monday, June 1st. Jefferies Financial Group boosted their target price on Tesla from $350.00 to $375.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. HSBC reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, June 15th. Finally, Morgan Stanley restated an “equal weight” rating and set a $415.00 target price on shares of Tesla in a research note on Thursday, July 2nd. Twenty-one analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $406.87.

Read Our Latest Stock Analysis on TSLA

Tesla Trading Up 3.0%

TSLA traded up $11.79 on Thursday, hitting $405.85. The company had a trading volume of 23,747,956 shares, compared to its average volume of 58,132,184. The company’s fifty day moving average price is $409.15 and its 200 day moving average price is $409.76. The firm has a market cap of $1.52 trillion, a P/E ratio of 371.81, a PEG ratio of 14.81 and a beta of 1.80. Tesla has a 1 year low of $297.82 and a 1 year high of $498.83. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 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 analysts’ expectations of $22.96 billion. During the same period in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts expect that Tesla will post 1.29 earnings per share for the current year.

Insider Activity at Tesla

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

Institutional Investors Weigh In On Tesla

Large investors have recently made changes to their positions in the business. Wealth Science Advisors LLC lifted its position in Tesla by 12.8% during the 2nd quarter. Wealth Science Advisors LLC now owns 627 shares of the electric vehicle producer’s stock worth $264,000 after acquiring an additional 71 shares in the last quarter. HF Advisory Group LLC grew its holdings in Tesla by 0.6% during the 2nd quarter. HF Advisory Group LLC now owns 5,027 shares of the electric vehicle producer’s stock valued at $2,114,000 after purchasing an additional 30 shares in the last quarter. GoalVest Advisory LLC lifted its holdings in Tesla by 2.4% in the 2nd quarter. GoalVest Advisory LLC now owns 14,521 shares of the electric vehicle producer’s stock worth $6,108,000 after buying an additional 334 shares in the last quarter. Aletheian Wealth Advisors LLC increased its position in shares of Tesla by 6.1% during the second quarter. Aletheian Wealth Advisors LLC now owns 2,960 shares of the electric vehicle producer’s stock worth $1,245,000 after acquiring an additional 169 shares during the last quarter. Finally, Tactive Advisors LLC grew its stake in Tesla by 5.6% during the 2nd quarter. Tactive Advisors LLC now owns 6,926 shares of the electric vehicle producer’s stock valued at $2,913,000 after purchasing an additional 369 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

Tesla Company Profile

(Get Free Report)

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.

Read More

Analyst Recommendations for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.