Tesla (NASDAQ:TSLA) Price Target Raised to $250.00 at The Goldman Sachs Group

Tesla (NASDAQ:TSLA) had its price target increased by The Goldman Sachs Group from $230.00 to $250.00 in a research report report published on Thursday, Marketbeat.com reports. The Goldman Sachs Group currently has a neutral rating on the electric vehicle producer’s stock.

A number of other analysts have also weighed in on TSLA. Canaccord Genuity Group upped their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday. Robert W. Baird reissued an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 target price on shares of Tesla in a report on Friday, October 11th. Royal Bank of Canada boosted their price target on shares of Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a report on Wednesday. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $218.18.

Tesla Stock Performance

Shares of TSLA stock opened at $260.48 on Thursday. Tesla has a one year low of $138.80 and a one year high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm’s 50 day moving average price is $228.54 and its 200-day moving average price is $206.41. The firm has a market cap 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.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (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 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 quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. As a group, equities research analysts predict that Tesla will post 1.75 EPS for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’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 completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction 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 approximately $14,967,479.07. 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 accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was 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 of the company’s stock, valued at $26,258,000. This trade represents 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.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently added to or reduced their stakes in the business. Integrated Advisors Network LLC lifted its holdings in shares of Tesla by 1.5% in the third quarter. Integrated Advisors Network LLC now owns 47,344 shares of the electric vehicle producer’s stock valued at $12,387,000 after purchasing an additional 716 shares in the last quarter. Fortitude Family Office LLC lifted its stake in Tesla by 1,145.5% in the 3rd quarter. Fortitude Family Office LLC now owns 822 shares of the electric vehicle producer’s stock valued at $215,000 after buying an additional 756 shares in the last quarter. Wells Trecaso Financial Group LLC grew its holdings in Tesla by 5.6% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 1,413 shares of the electric vehicle producer’s stock valued at $370,000 after buying an additional 75 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Tesla by 18.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 39,750 shares of the electric vehicle producer’s stock worth $10,400,000 after buying an additional 6,224 shares in the last quarter. Finally, abrdn plc raised its holdings in shares of Tesla by 9.5% in the third quarter. abrdn plc now owns 2,828,248 shares of the electric vehicle producer’s stock worth $735,033,000 after acquiring an additional 244,648 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other 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.