Tesla (NASDAQ:TSLA) Given New $259.00 Price Target at UBS Group

Tesla (NASDAQ:TSLA) had its price objective raised by equities research analysts at UBS Group from $226.00 to $259.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “sell” rating on the electric vehicle producer’s stock. UBS Group’s price objective would suggest a potential downside of 35.30% from the company’s current price.

A number of other research firms also recently commented on TSLA. Truist Financial increased their target price on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday. Canaccord Genuity Group lifted their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company raised their price objective on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $318.31.

Tesla Stock Performance

NASDAQ:TSLA traded up $11.18 during mid-day trading on Thursday, reaching $400.28. The company’s stock had a trading volume of 97,548,179 shares, compared to its average volume of 75,079,422. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54. The firm’s fifty day moving average price is $401.98 and its two-hundred day moving average price is $297.28. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.28 trillion, a P/E ratio of 109.67, a PEG ratio of 8.42 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.24% and a net margin of 13.07%. On average, equities analysts forecast that Tesla will post 2.01 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock worth $212,451,751 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Hedge funds have recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter worth about $29,000. Clean Yield Group boosted its holdings in 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 in the last quarter. Peterson Financial Group Inc. acquired a new position in Tesla during the third quarter worth $35,000. M&R Capital Management Inc. lifted its stake in shares of Tesla by 263.2% in the third 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 period. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Tesla during the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors 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.