Tesla (NASDAQ:TSLA) Price Target Increased to $153.00 by Analysts at Guggenheim

Tesla (NASDAQ:TSLA) had its price objective boosted by Guggenheim from $134.00 to $153.00 in a research note issued to investors on Friday, Benzinga reports. Guggenheim currently has a sell rating on the electric vehicle producer’s stock.

Several other research firms have also issued reports on TSLA. Morgan Stanley reaffirmed an overweight rating and set a $310.00 price target on shares of Tesla in a research report on Thursday, September 5th. Canaccord Genuity Group upped their target price on shares of Tesla from $222.00 to $254.00 and gave the company a buy rating in a report on Wednesday, July 3rd. KGI Securities reiterated a neutral rating and set a $236.00 price target on shares of Tesla in a report on Thursday, July 25th. TD Cowen upped their price objective on Tesla from $160.00 to $180.00 and gave the company a hold rating in a research note on Wednesday, July 3rd. Finally, Needham & Company LLC reiterated a hold rating on shares of Tesla in a research note on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $209.60.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $230.29 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The business has a 50-day moving average of $223.37 and a 200-day moving average of $194.66. The stock has a market capitalization of $735.69 billion, a price-to-earnings ratio of 58.75, a PEG ratio of 6.03 and a beta of 2.29. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $278.98.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on 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 directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Large investors have recently bought and sold shares of the company. DDFG Inc raised its stake in shares of Tesla by 7.1% during the fourth quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock valued at $265,000 after acquiring an additional 71 shares during the last quarter. Vantage Financial Partners LLC lifted its holdings in Tesla by 6.4% during the 4th quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock worth $1,432,000 after buying an additional 346 shares during the period. Gilbert & Cook Inc. grew its position in shares of Tesla by 8.7% in the 4th quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock valued at $3,357,000 after buying an additional 1,086 shares during the last quarter. 9258 Wealth Management LLC increased its stake in shares of Tesla by 1.1% in the fourth quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock valued at $1,532,000 after buying an additional 69 shares during the period. Finally, Rollins Financial raised its position in shares of Tesla by 10.2% during the fourth quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock worth $29,921,000 after acquiring an additional 11,191 shares during the last quarter. 66.20% of the stock is currently 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.