Tesla (NASDAQ:TSLA) Price Target Raised to $390.00

Tesla (NASDAQ:TSLA) had its price objective raised by Mizuho from $325.00 to $390.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other research reports. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, April 24th. Guggenheim restated a “sell” rating and set a $170.00 price objective on shares of Tesla in a research report on Thursday, April 24th. Argus set a $410.00 price objective on shares of Tesla in a research report on Thursday, April 24th. Cfra Research downgraded shares of Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $289.43.

Tesla Trading Up 2.1%

Shares of Tesla stock opened at $349.98 on Friday. The company has a fifty day simple moving average of $267.35 and a 200-day simple moving average of $330.65. Tesla has a 12-month low of $167.41 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 171.56, a PEG ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the prior year, the company earned $0.45 EPS. On average, equities analysts forecast that Tesla will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $300.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $8,085,000. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 412,623 shares of company stock worth $115,600,501 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TSLA. Norges Bank acquired a new position in Tesla during the fourth quarter valued at approximately $14,420,248,000. Goldman Sachs Group Inc. lifted its position in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Nuveen LLC acquired a new position in Tesla during the first quarter valued at approximately $3,247,619,000. FMR LLC raised its stake in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

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.