Tesla (NASDAQ:TSLA) Given New $250.00 Price Target at The Goldman Sachs Group

Tesla (NASDAQ:TSLA) had its price target lifted by analysts at The Goldman Sachs Group from $230.00 to $250.00 in a research note issued on Thursday, Briefing.com reports. The brokerage currently has a “neutral” rating on the electric vehicle producer’s stock. The Goldman Sachs Group’s target price points to a potential upside of 17.01% from the company’s current price.

Other equities analysts also recently issued reports about the company. TD Cowen raised 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. Royal Bank of Canada boosted their price target on Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a report on Thursday. KGI Securities reissued a “neutral” rating and issued a $236.00 price target on shares of Tesla in a report on Thursday, July 25th. Argus reissued a “buy” rating and issued a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Finally, Roth Mkm reissued a “neutral” rating and issued a $85.00 price target on shares of Tesla in a report on Friday, October 11th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $214.18.

Tesla Stock Performance

Shares of TSLA stock opened at $213.65 on Thursday. The company has a market cap of $682.53 billion, a price-to-earnings ratio of 60.01, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The stock has a 50 day simple moving average of $228.54 and a 200-day simple moving average of $206.41. Tesla has a 12-month low of $138.80 and a 12-month high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts forecast 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 company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Bank & Trust Co acquired a new position in shares of Tesla in the second quarter worth about $25,000. Clean Yield Group lifted its stake in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in Tesla during the second quarter valued at approximately $26,000. Finally, M&R Capital Management Inc. raised its stake in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.