Tesla (NASDAQ:TSLA) Given New $400.00 Price Target at Morgan Stanley

Tesla (NASDAQ:TSLA - Free Report) had its target price raised by Morgan Stanley from $310.00 to $400.00 in a report published on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the electric vehicle producer's stock.

TSLA has been the topic of a number of other research reports. Royal Bank of Canada increased their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an "outperform" rating in a research report on Friday, November 15th. Sanford C. Bernstein reissued an "underperform" rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Bank of America raised their price target on shares of Tesla from $350.00 to $400.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Piper Sandler raised their price target on shares of Tesla from $310.00 to $315.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $400.00 price target on shares of Tesla in a research report on Monday, November 18th. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of "Hold" and a consensus target price of $254.48.

Tesla Trading Up 2.9 %

Tesla stock traded up $11.20 during trading hours on Tuesday, reaching $400.99. 97,358,234 shares of the company's stock were exchanged, compared to its average volume of 94,721,867. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm's 50 day simple moving average is $288.09 and its 200 day simple moving average is $240.67. Tesla has a twelve month low of $138.80 and a twelve month high of $409.73. The firm has a market capitalization of $1.29 trillion, a PE ratio of 109.86, a PEG ratio of 12.64 and a beta of 2.36.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analysts' expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business's revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. Research analysts predict that Tesla will post 1.99 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company's stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 60,500 shares of the firm's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares of the company's stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 522,886 shares of company stock worth $171,393,831. Corporate insiders own 20.70% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Tesla by 6.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 81,040 shares of the electric vehicle producer's stock worth $16,036,000 after acquiring an additional 5,189 shares during the last quarter. Country Club Bank lifted its holdings in shares of Tesla by 42.9% during the 2nd quarter. Country Club Bank now owns 10,330 shares of the electric vehicle producer's stock worth $2,039,000 after acquiring an additional 3,101 shares during the last quarter. Abundance Wealth Counselors lifted its holdings in shares of Tesla by 5.5% during the 2nd quarter. Abundance Wealth Counselors now owns 5,727 shares of the electric vehicle producer's stock worth $1,133,000 after acquiring an additional 301 shares during the last quarter. AlphaMark Advisors LLC lifted its stake in Tesla by 8.1% in the second quarter. AlphaMark Advisors LLC now owns 949 shares of the electric vehicle producer's stock worth $188,000 after purchasing an additional 71 shares during the last quarter. Finally, FinDec Wealth Services Inc. bought a new stake in Tesla in the second quarter worth $202,000. 66.20% of the stock is owned by institutional investors.

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.