Tesla (NASDAQ:TSLA) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Tesla (NASDAQ:TSLA - Get Free Report) had its price objective hoisted by equities research analysts at Canaccord Genuity Group from $303.00 to $333.00 in a research note issued to investors on Thursday, MarketBeat.com reports. The firm currently has a "buy" rating on the electric vehicle producer's stock. Canaccord Genuity Group's target price suggests a potential upside of 5.36% from the stock's current price.

A number of other equities research analysts have also recently issued reports on the stock. Glj Research reissued a "sell" rating and set a $19.05 target price (down previously from $24.86) on shares of Tesla in a report on Monday, April 21st. Roth Mkm lowered their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley reissued an "overweight" rating and set a $410.00 target price on shares of Tesla in a report on Friday, June 6th. Bank of America lifted their price objective on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. reduced their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $302.75.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded up $10.76 during mid-day trading on Thursday, reaching $316.06. The company had a trading volume of 147,437,834 shares, compared to its average volume of 90,285,424. The company has a current ratio of 2.04, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.02 trillion, a price-to-earnings ratio of 182.69, a PEG ratio of 12.00 and a beta of 2.39. The company's 50-day moving average price is $324.70 and its 200-day moving average price is $314.09. Tesla has a one year low of $182.00 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the firm earned $0.52 EPS. The company's revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Tesla will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 835,509 shares of company stock worth $279,420,485. Company insiders own 20.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC purchased a new position in shares of Tesla during the 4th quarter worth $56,600,000. Means Investment CO. Inc. boosted its stake in shares of Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after acquiring an additional 6,323 shares during the last quarter. Focus Financial Network Inc. boosted its stake in shares of Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after acquiring an additional 670 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after purchasing an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. bought a new stake in shares of Tesla during the 4th quarter valued at $8,158,000. Hedge funds and other institutional investors 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.