Tesla (NASDAQ:TSLA) Given Buy Rating at Royal Bank Of Canada

Key Points

• Tesla's stock received a reaffirmed "buy" rating from Royal Bank of Canada, signaling positive analyst sentiment towards the company's future performance.
• Several analysts have recently raised their price targets for Tesla, with Mizuho and Piper Sandler setting targets at $450.00 and $500.00, respectively, indicating a strong outlook despite a current consensus rating of "Hold."
• Insider transactions showed significant sales, with Director James R. Murdoch selling 120,000 shares, representing a 14.69% decrease in ownership, suggesting some internal actions that investors might want to monitor.

Tesla (NASDAQ:TSLA - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Royal Bank Of Canada in a research note issued to investors on Thursday,MarketScreener reports.

TSLA has been the subject of several other reports. Mizuho increased their price objective on Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a report on Tuesday, September 23rd. Piper Sandler raised their price target on Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a report on Monday, September 22nd. Guggenheim reaffirmed a "sell" rating and set a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Finally, Robert W. Baird raised Tesla from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company's stock. Based on data from MarketBeat, Tesla currently has a consensus rating of "Hold" and an average target price of $349.37.

Tesla Stock Up 1.1%

Shares of NASDAQ:TSLA opened at $440.53 on Thursday. The business's 50 day simple moving average is $373.75 and its two-hundred day simple moving average is $326.64. The firm has a market cap of $1.46 trillion, a P/E ratio of 253.41, a PEG ratio of 16.04 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla has a 52-week low of $212.11 and a 52-week high of $488.54.

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

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC grew its position in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank raised its stake in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Chapman Financial Group LLC bought a new stake in shares of Tesla during the second quarter valued at approximately $26,000. Newton One Investments LLC raised its stake in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares in the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new stake in Tesla during the first quarter worth $27,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

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.

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