Tesla (NASDAQ:TSLA) Given New $300.00 Price Target at Jefferies Financial Group

by · The Markets Daily

Tesla (NASDAQ:TSLA – Free Report) had its price target upped by Jefferies Financial Group from $195.00 to $300.00 in a research report report published on Thursday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the electric vehicle producer’s stock.

Other analysts have also recently issued reports about the stock. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a report on Thursday, October 24th. Bank of America boosted their target price on shares of Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Wolfe Research assumed coverage on Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Canaccord Genuity Group increased their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their price objective on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $228.24.

Get Our Latest Stock Analysis on Tesla

Tesla Stock Performance

Shares of NASDAQ:TSLA traded up $11.16 during midday trading on Thursday, hitting $322.34. The company had a trading volume of 57,360,035 shares, compared to its average volume of 95,770,594. The company has a market cap of $1.03 trillion, a price-to-earnings ratio of 87.15, a PEG ratio of 10.73 and a beta of 2.29. Tesla has a 12-month low of $138.80 and a 12-month high of $358.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a fifty day moving average of $250.10 and a two-hundred day moving average of $219.58.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Tesla will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,797 shares of company stock valued at $57,616,781 over the last three months. Company insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors have recently modified their holdings of the business. IHT Wealth Management LLC raised its position in shares of Tesla by 12.3% during the 3rd quarter. IHT Wealth Management LLC now owns 42,640 shares of the electric vehicle producer’s stock worth $11,110,000 after purchasing an additional 4,663 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of Tesla by 9.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 90,300 shares of the electric vehicle producer’s stock worth $23,625,000 after buying an additional 7,791 shares during the last quarter. Investment Management Corp of Ontario increased its holdings in shares of Tesla by 13.9% during the third quarter. Investment Management Corp of Ontario now owns 334,975 shares of the electric vehicle producer’s stock worth $87,640,000 after purchasing an additional 40,913 shares during the period. Iron Gate Global Advisors LLC lifted its holdings in Tesla by 24.8% in the third quarter. Iron Gate Global Advisors LLC now owns 1,831 shares of the electric vehicle producer’s stock valued at $479,000 after buying an additional 364 shares during the period. Finally, Itau Unibanco Holding S.A. boosted its holdings in Tesla by 15.0% during the third quarter. Itau Unibanco Holding S.A. now owns 32,146 shares of the electric vehicle producer’s stock worth $8,410,000 after purchasing an additional 4,189 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Company Profile

(Get Free Report)

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.

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