Tesla (NASDAQ:TSLA) Price Target Raised to $400.00 at Bank of America

Tesla (NASDAQ:TSLA - Get Free Report) had its price objective boosted by investment analysts at Bank of America from $350.00 to $400.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the electric vehicle producer's stock. Bank of America's target price suggests a potential upside of 8.26% from the stock's previous close.

A number of other equities research analysts have also weighed in on the company. Wedbush reiterated an "outperform" rating and issued a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. Phillip Securities cut Tesla from a "moderate sell" rating to a "strong sell" rating in a research note on Wednesday, November 13th. Truist Financial raised their price objective on Tesla from $236.00 to $238.00 and gave the company a "hold" rating in a research report on Thursday, October 24th. Glj Research reaffirmed a "sell" rating and issued a $24.86 target price on shares of Tesla in a research report on Thursday, October 17th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $245.84.

Tesla Stock Performance

Shares of TSLA stock traded up $11.56 on Thursday, hitting $369.49. 81,162,398 shares of the stock were exchanged, compared to its average volume of 94,759,672. Tesla has a one year low of $138.80 and a one year high of $375.43. The firm's 50 day moving average is $280.65 and its two-hundred day moving average is $235.96. The firm has a market capitalization of $1.19 trillion, a PE ratio of 101.68, a P/E/G ratio of 11.41 and a beta of 2.36. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter last year, the company earned $0.53 EPS. The firm's revenue was up 7.8% compared to the same quarter last year. Sell-side analysts expect that Tesla will post 1.99 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the 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 transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 420,577 shares of company stock worth $135,230,506 over the last ninety days. Company insiders own 20.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. Vinva Investment Management Ltd raised its stake in Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer's stock valued at $30,593,000 after acquiring an additional 43,685 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer's stock valued at $37,801,000 after buying an additional 1,741 shares during the period. Tyler Stone Wealth Management lifted its stake in shares of Tesla by 109.6% in the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer's stock worth $2,466,000 after acquiring an additional 4,929 shares during the period. Fred Alger Management LLC raised its holdings in Tesla by 187.0% during the third quarter. Fred Alger Management LLC now owns 725,282 shares of the electric vehicle producer's stock worth $189,756,000 after purchasing an additional 472,565 shares in the last quarter. Finally, Savvy Advisors Inc. boosted its holdings in Tesla by 24.2% in the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer's stock valued at $1,969,000 after purchasing an additional 1,467 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other 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.