Tesla, Inc. (NASDAQ:TSLA) Receives $301.60 Consensus PT from Brokerages

Shares of Tesla, Inc. (NASDAQ:TSLA - Get Free Report) have received a consensus rating of "Hold" from the forty-one ratings firms that are currently covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, seventeen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $301.13.

TSLA has been the subject of several analyst reports. William Blair downgraded shares of Tesla from an "outperform" rating to a "market perform" rating in a report on Monday. Wells Fargo & Company lowered their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. JPMorgan Chase & Co. lowered their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a report on Wednesday, April 23rd. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Finally, Truist Financial set a $280.00 price objective on shares of Tesla in a report on Tuesday, April 22nd.

Tesla Stock Up 4.7%

TSLA traded up $13.99 during trading on Monday, hitting $309.87. 103,742,838 shares of the company's stock were exchanged, compared to its average volume of 100,391,799. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The business's 50 day moving average is $322.07 and its two-hundred day moving average is $322.26. Tesla has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The stock has a market cap of $998.08 billion, a P/E ratio of 170.26, a PEG ratio of 8.80 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate 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 9.02% and a net margin of 6.66%. During the same quarter in the previous year, the company posted $0.45 EPS. As a group, equities analysts expect that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 835,509 shares of company stock valued at $279,420,485. Company insiders own 20.70% of the company's stock.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently made changes to their positions in TSLA. Norges Bank bought a new stake in shares of Tesla in the 4th quarter worth approximately $14,420,248,000. Goldman Sachs Group Inc. lifted its holdings in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. Nuveen LLC bought a new stake in shares of Tesla in the 1st quarter worth approximately $3,247,619,000. FMR LLC raised its holdings in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Tesla by 27,378.6% during the 1st 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 currently 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.