Brokerages Set Tesla, Inc. (NASDAQ:TSLA) Target Price at $287.48

Shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) have received a consensus recommendation of “Hold” from the forty-one ratings firms that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $288.18.

A number of research analysts have recently commented on the company. Cowen increased their price objective on Tesla from $233.33 to $244.33 in a report on Thursday, July 21st. Wolfe Research upgraded Tesla from a “peer perform” rating to an “outperform” rating and set a $360.00 price target on the stock in a research note on Tuesday, September 6th. Canaccord Genuity Group lifted their target price on Tesla from $271.67 to $293.67 and gave the company a “buy” rating in a research note on Monday, August 8th. Morgan Stanley reduced their price target on Tesla to $383.33 and set an “overweight” rating for the company in a report on Thursday, August 25th. Finally, UBS Group raised Tesla from a “neutral” rating to a “buy” rating and set a $366.67 price target for the company in a report on Thursday, June 9th.

Insiders Place Their Bets

In other news, SVP Andrew D. Baglino sold 3,500 shares of the business’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $791.50, for a total transaction of $2,770,250.00. Following the transaction, the senior vice president now directly owns 20,567 shares in the company, valued at approximately $16,278,780.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 3,500 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $791.50, for a total transaction of $2,770,250.00. Following the transaction, the senior vice president now owns 20,567 shares in the company, valued at approximately $16,278,780.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 26,250 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $278.93, for a total transaction of $7,321,912.50. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,506,222. The disclosure for this sale can be found here. Insiders have sold 73,750 shares of company stock valued at $39,835,410 in the last three months. 25.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in TSLA. TFO TDC LLC bought a new position in Tesla in the 2nd quarter valued at approximately $27,000. Horan Securities Inc. increased its position in Tesla by 164.3% in the 2nd quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 23 shares during the period. Verity Asset Management Inc. acquired a new position in Tesla in the 1st quarter valued at approximately $28,000. First Financial Corp IN acquired a new position in Tesla in the 1st quarter valued at approximately $32,000. Finally, Greenspring Advisors LLC acquired a new position in Tesla in the 1st quarter valued at approximately $32,000. Institutional investors own 43.01% of the company’s stock.

Tesla Price Performance

TSLA opened at $303.35 on Friday. The stock’s 50-day moving average price is $281.87 and its 200 day moving average price is $279.44. Tesla has a 12-month low of $206.86 and a 12-month high of $414.50. The company has a current ratio of 1.43, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The firm has a market cap of $942.82 billion, a price-to-earnings ratio of 109.64, a PEG ratio of 2.71 and a beta of 2.18.

Tesla (NASDAQ:TSLAGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The electric vehicle producer reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. The company had revenue of $16.93 billion for the quarter, compared to analyst estimates of $16.92 billion. Tesla had a return on equity of 29.04% and a net margin of 14.17%. Tesla’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. As a group, sell-side analysts expect that Tesla will post 3.58 earnings per share for the current year.

Tesla Company Profile

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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.

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