Piper Sandler Increases Tesla (NASDAQ:TSLA) Price Target to $315.00

Tesla (NASDAQ:TSLA) had its price target boosted by Piper Sandler from $310.00 to $315.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the electric vehicle producer’s stock.

A number of other research analysts have also weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Company increased their price target on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday. Roth Mkm reiterated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. Finally, Wolfe Research started coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $219.00.

Tesla Stock Performance

TSLA traded up $8.71 during midday trading on Friday, reaching $269.19. The company had a trading volume of 161,611,931 shares, compared to its average volume of 94,680,352. The business has a 50-day moving average price of $229.47 and a two-hundred day moving average price of $206.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla has a 12-month low of $138.80 and a 12-month high of $271.00. The stock has a market cap of $858.50 billion, a PE ratio of 68.67, a P/E/G ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts expect that Tesla will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares in the last quarter. Clean Energy Transition LLP lifted its position in Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC boosted its holdings in shares of Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after acquiring an additional 1,479,378 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

About Tesla

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.