Tesla (NASDAQ:TSLA) Upgraded to Outperform at KGI Securities

KGI Securities upgraded shares of Tesla (NASDAQ:TSLA) from a neutral rating to an outperform rating in a report released on Thursday, Benzinga reports. The brokerage currently has $276.00 price objective on the electric vehicle producer’s stock.

Several other brokerages have also recently issued reports on TSLA. Bank of America raised their target price on shares of Tesla from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group downgraded Tesla from a “neutral” rating to a “sell” rating and raised their price target for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research report on Friday, July 5th. Finally, William Blair started coverage on shares of Tesla in a research report on Thursday, August 29th. They set an “outperform” rating for the company. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $218.18.

Tesla Stock Up 21.9 %

TSLA stock opened at $260.48 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla has a 1-year low of $138.80 and a 1-year high of $271.00. The stock has a market capitalization of $832.14 billion, a P/E ratio of 73.17, a P/E/G ratio of 6.24 and a beta of 2.29. The business has a fifty day moving average price of $228.54 and a 200-day moving average price of $206.41.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for 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 business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. 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, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was 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 directly owns 67,491 shares of the company’s stock, valued at $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 company insiders.

Institutional Investors Weigh In On Tesla

Institutional investors have recently modified their holdings of the stock. Bank & Trust Co bought a new stake in Tesla in the second quarter worth $25,000. Clean Yield Group raised its stake in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC lifted its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the 2nd quarter worth about $26,000. Finally, M&R Capital Management Inc. grew its holdings in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

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.