Tesla (NASDAQ:TSLA) Price Target Raised to $500.00 at Piper Sandler

Tesla (NASDAQ:TSLA) had its price target hoisted by research analysts at Piper Sandler from $315.00 to $500.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the electric vehicle producer’s stock. Piper Sandler’s price objective indicates a potential upside of 19.57% from the company’s current price.

Several other brokerages also recently weighed in on TSLA. The Goldman Sachs Group boosted their target price on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. HSBC reissued a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. Truist Financial reaffirmed a “hold” rating and issued a $360.00 target price on shares of Tesla in a research note on Thursday, January 2nd. Wedbush reissued an “outperform” rating and set a $400.00 price target on shares of Tesla in a research note on Monday, November 18th. Finally, Barclays lifted their price objective on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $304.94.

Tesla Price Performance

NASDAQ TSLA traded down $8.35 during trading hours on Tuesday, reaching $418.16. The company’s stock had a trading volume of 52,928,230 shares, compared to its average volume of 79,085,492. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market cap of $1.34 trillion, a PE ratio of 114.63, a PEG ratio of 8.60 and a beta of 2.30. The company’s 50-day moving average is $391.47 and its two-hundred day moving average is $290.05. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. Analysts forecast that Tesla will post 2.01 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC increased its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in Tesla in the third quarter valued at about $29,000. Clean Yield Group increased its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Tesla during the 3rd quarter worth about $35,000. Finally, M&R Capital Management Inc. lifted its holdings in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.