Piper Sandler Raises Tesla (NASDAQ:TSLA) Price Target to $315.00

Tesla (NASDAQ:TSLA) had its price target increased by equities researchers at Piper Sandler from $310.00 to $315.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the electric vehicle producer’s stock. Piper Sandler’s target price suggests a potential upside of 18.83% from the company’s current price.

A number of other brokerages have also commented on TSLA. Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Thursday, October 17th. Canaccord Genuity Group lifted their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday. Guggenheim increased their price target on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research note on Thursday. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Finally, William Blair assumed coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $218.33.

Tesla Trading Up 1.8 %

Shares of TSLA traded up $4.61 during trading hours on Friday, hitting $265.09. The company had a trading volume of 79,649,352 shares, compared to its average volume of 94,288,320. The firm has a market cap of $846.87 billion, a P/E ratio of 73.87, a P/E/G ratio of 6.24 and a beta of 2.29. Tesla has a 52-week low of $138.80 and a 52-week high of $271.00. The stock’s 50 day moving average price is $228.54 and its 200 day moving average price is $206.41. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. On average, research analysts predict that Tesla will post 1.75 EPS for the current year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were 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 of the company’s stock, valued at approximately $14,967,479.07. The trade was 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 hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on 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 owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several large investors have recently added to or reduced their stakes in TSLA. Bank & Trust Co bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $25,000. Clean Yield Group lifted its stake in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake 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 valued at $26,000 after purchasing an additional 81 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $26,000. Finally, M&R Capital Management Inc. lifted its stake in shares of Tesla by 263.2% in 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.

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.