Tesla's (TSLA) "Outperform" Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of Tesla (NASDAQ:TSLA - Free Report) in a report released on Thursday, Benzinga reports. The firm currently has a $300.00 target price on the electric vehicle producer's stock.

Several other equities research analysts have also commented on TSLA. Roth Mkm reiterated a "neutral" rating and issued a $85.00 price objective on shares of Tesla in a research report on Friday, October 11th. Robert W. Baird reaffirmed an "outperform" rating and issued a $280.00 price target on shares of Tesla in a report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an "underweight" rating in a research note on Thursday. Truist Financial upped their target price on Tesla from $236.00 to $238.00 and gave the company a "hold" rating in a research note on Thursday. Finally, Wolfe Research assumed coverage on Tesla in a research report on Thursday, September 5th. They set a "peer perform" rating for the company. Eight equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $218.18.

Tesla Price Performance

Shares of NASDAQ:TSLA traded up $46.83 on Thursday, reaching $260.48. 203,681,145 shares of the company were exchanged, compared to its average volume of 94,351,078. The company has a 50-day moving average of $228.54 and a 200-day moving average of $206.41. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a market cap of $832.14 billion, a price-to-earnings ratio of 73.17, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. Tesla has a 1-year low of $138.80 and a 1-year high of $271.00.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts' expectations of $25.47 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. Equities analysts forecast that Tesla will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling 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 completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company'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 completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla 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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently bought and sold shares of TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer's stock worth $108,638,000 after buying an additional 206,248 shares during the last quarter. Morse Asset Management Inc increased its position in shares of Tesla by 138.1% in the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer's stock worth $1,181,000 after purchasing an additional 3,462 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Tesla by 12.9% in the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer's stock valued at $46,858,000 after purchasing an additional 27,130 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Tesla during the first quarter worth about $1,941,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Tesla in the first quarter worth about $79,000. Institutional investors and hedge funds 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.