Tesla (NASDAQ:TSLA) Price Target Raised to $175.00

Tesla (NASDAQ:TSLA - Free Report) had its price objective hoisted by Guggenheim from $156.00 to $175.00 in a research note released on Thursday,Benzinga reports. Guggenheim currently has a sell rating on the electric vehicle producer's stock.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Thursday, October 24th. Canaccord Genuity Group boosted their price objective on shares of Tesla from $254.00 to $278.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Glj Research restated a "sell" rating and set a $24.86 price objective on shares of Tesla in a report on Thursday, October 17th. Oppenheimer reiterated a "market perform" rating on shares of Tesla in a report on Tuesday, October 8th. Finally, StockNews.com upgraded shares of Tesla from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $245.84.

Tesla Stock Up 3.2 %

Shares of Tesla stock traded up $11.56 during midday trading on Thursday, reaching $369.49. 81,162,398 shares of the company's stock traded hands, compared to its average volume of 94,759,672. 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 $282.96 and its 200 day simple moving average is $236.89. Tesla has a 52 week low of $138.80 and a 52 week high of $375.43. The company has a market cap of $1.19 trillion, a price-to-earnings ratio of 101.23, a price-to-earnings-growth ratio of 11.41 and a beta of 2.36.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. Equities analysts expect that Tesla will post 1.99 earnings per share for the current fiscal year.

Insider Activity

In related 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 420,577 shares of company stock valued at $135,230,506 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

A number of large investors have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer's stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares in the last quarter. Clean Energy Transition LLP boosted its stake in shares of Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer's stock valued at $953,505,000 after purchasing an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer's stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer's stock valued at $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer's stock valued at $1,921,548,000 after buying an additional 2,511,488 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.