The Goldman Sachs Group Increases Tesla (NASDAQ:TSLA) Price Target to $315.00

Tesla (NASDAQ:TSLA - Free Report) had its target price increased by The Goldman Sachs Group from $285.00 to $315.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the electric vehicle producer's stock.

Several other research analysts also recently issued reports on TSLA. Guggenheim reaffirmed a "sell" rating and issued a $175.00 price objective on shares of Tesla in a research note on Monday, June 23rd. Mizuho upped their price objective on Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tesla presently has a consensus rating of "Hold" and an average price target of $301.60.

Tesla Price Performance

NASDAQ TSLA traded down $2.09 during trading on Thursday, hitting $313.56. 58,042,302 shares of the company's stock were exchanged, compared to its average volume of 100,923,382. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.01 trillion, a PE ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39. Tesla has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The stock's 50 day moving average price is $320.93 and its two-hundred day moving average price is $324.35.

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 (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the company earned $0.45 EPS. Research analysts expect that Tesla will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director owned 85,000 shares in the company, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,564 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,692,546.04. This trade represents a 30.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 833,509 shares of company stock worth $278,648,925. Company insiders own 20.70% of the company's stock.

Institutional Investors Weigh In On Tesla

Several large investors have recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank increased its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC increased its position in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the 1st quarter worth about $27,000. Finally, True Wealth Design LLC increased its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other 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.