Tesla (NASDAQ:TSLA) Raised to Buy at New Street Research

New Street Research upgraded shares of Tesla (NASDAQ:TSLA - Free Report) from a neutral rating to a buy rating in a report published on Monday, Marketbeat reports. New Street Research currently has $460.00 price objective on the electric vehicle producer's stock.

TSLA has been the topic of a number of other reports. Royal Bank of Canada boosted their price target on Tesla from $249.00 to $313.00 and gave the company an "outperform" rating in a report on Friday, November 15th. Piper Sandler upped their price target on Tesla from $310.00 to $315.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Phillip Securities downgraded shares of Tesla from a "moderate sell" rating to a "strong sell" rating in a report on Wednesday, November 13th. Roth Mkm upgraded shares of Tesla from a "neutral" rating to a "buy" rating and increased their target price for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Wells Fargo & Company lifted their price target on shares of Tesla from $120.00 to $125.00 and gave the company an "underweight" rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $292.97.

Tesla Trading Up 0.1 %

NASDAQ:TSLA traded up $0.61 during trading hours on Monday, hitting $411.05. The stock had a trading volume of 85,192,681 shares, compared to its average volume of 96,753,781. The business's 50 day moving average is $365.34 and its 200-day moving average is $276.00. The company has a market cap of $1.32 trillion, a price-to-earnings ratio of 112.62, a P/E/G ratio of 10.80 and a beta of 2.30. Tesla has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $25.18 billion for 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 firm's revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. Sell-side analysts anticipate that Tesla will post 1.99 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $26,727,400. This represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now owns 5,400 shares of the company's stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 514,886 shares of company stock valued at $169,393,831. Company insiders own 20.70% of the company's stock.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently bought and sold shares of the company. Asset Dedication LLC boosted its holdings in Tesla by 8.1% in the second quarter. Asset Dedication LLC now owns 4,568 shares of the electric vehicle producer's stock valued at $904,000 after acquiring an additional 344 shares during the last quarter. MainStreet Investment Advisors LLC acquired a new stake in shares of Tesla during the second quarter worth $360,000. Acadian Asset Management LLC raised its stake in Tesla by 39.9% during the second quarter. Acadian Asset Management LLC now owns 61,681 shares of the electric vehicle producer's stock worth $12,202,000 after buying an additional 17,592 shares during the last quarter. DDFG Inc acquired a new position in Tesla in the second quarter valued at $221,000. Finally, Stonekeep Investments LLC bought a new stake in Tesla during the second quarter valued at $2,428,000. 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.