Tesla (NASDAQ:TSLA) Price Target Raised to $345.00 at The Goldman Sachs Group

Tesla (NASDAQ:TSLA) had its price target hoisted by The Goldman Sachs Group from $250.00 to $345.00 in a research report released on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the electric vehicle producer’s stock.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group lifted their price target on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Bank of America raised their price objective on shares of Tesla from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Royal Bank of Canada raised their price objective on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Wedbush restated an “outperform” rating and issued a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $257.36.

Tesla Trading Up 4.3 %

Shares of TSLA stock opened at $436.23 on Wednesday. Tesla has a 12-month low of $138.80 and a 12-month high of $436.30. The company has a market capitalization of $1.40 trillion, a P/E ratio of 119.52, a P/E/G ratio of 10.52 and a beta of 2.36. The firm has a 50-day moving average price of $301.74 and a 200 day moving average price of $246.51. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly 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 net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the firm posted $0.53 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts forecast that Tesla will post 1.99 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 the business’s stock in a transaction on Monday, September 23rd. The shares were 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 owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 522,886 shares of company stock valued at $171,393,831. 20.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

A number of institutional investors have recently made changes to their positions in the business. Connable Office Inc. lifted its position in shares of Tesla by 0.3% in the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after purchasing an additional 38 shares in the last quarter. Community Bank N.A. increased its holdings in Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after buying an additional 38 shares during the last quarter. Holistic Financial Partners increased its holdings in Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after buying an additional 40 shares during the last quarter. Integris Wealth Management LLC increased its holdings in Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after buying an additional 42 shares during the last quarter. Finally, Sherrill & Hutchins Financial Advisory Inc increased its holdings in Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

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.