Tesla (NASDAQ:TSLA) Hits New 12-Month High on Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) shares reached a new 52-week high during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $265.00 to $287.00. Stifel Nicolaus currently has a buy rating on the stock. Tesla traded as high as $272.78 and last traded at $271.90, with a volume of 36105188 shares trading hands. The stock had previously closed at $269.19.

Other research analysts have also issued reports about the company. The Goldman Sachs Group upped their price objective on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday. Citigroup cut their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Wolfe Research assumed coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Bank of America raised their price target on Tesla from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research report on Friday, October 11th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $219.00.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently made changes to their positions in TSLA. Panoramic Investment Advisors LLC lifted its stake in shares of Tesla by 184.7% in the 1st quarter. Panoramic Investment Advisors LLC now owns 3,744 shares of the electric vehicle producer’s stock valued at $658,000 after acquiring an additional 2,429 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in Tesla by 21.5% in the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 2,377 shares of the electric vehicle producer’s stock valued at $418,000 after purchasing an additional 420 shares during the last quarter. Cullinan Associates Inc. boosted its stake in shares of Tesla by 1.0% during the first quarter. Cullinan Associates Inc. now owns 23,831 shares of the electric vehicle producer’s stock valued at $4,189,000 after purchasing an additional 231 shares during the period. Synergy Asset Management LLC increased its stake in shares of Tesla by 58.1% in the first quarter. Synergy Asset Management LLC now owns 18,284 shares of the electric vehicle producer’s stock worth $3,214,000 after buying an additional 6,718 shares during the period. Finally, State of Michigan Retirement System raised its holdings in Tesla by 0.3% during the 1st quarter. State of Michigan Retirement System now owns 759,157 shares of the electric vehicle producer’s stock valued at $133,452,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 0.9 %

The firm has a market cap of $871.69 billion, a PE ratio of 74.77, a PEG ratio of 7.59 and a beta of 2.29. 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 company’s 50-day simple moving average is $230.53 and its two-hundred day simple moving average is $207.92.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. On average, analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

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.