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

Tesla (NASDAQ:TSLA - Get Free Report) had its target price upped by stock analysts at The Goldman Sachs Group from $285.00 to $315.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the electric vehicle producer's stock. The Goldman Sachs Group's target price points to a potential downside of 0.04% from the stock's current price.

A number of other analysts have also recently commented on the company. Mizuho lifted their target price on Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and raised their target price for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Finally, Cantor Fitzgerald cut their target price on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus price target of $301.24.

Tesla Stock Down 0.2%

TSLA stock traded down $0.53 during midday trading on Thursday, reaching $315.12. 56,510,987 shares of the company were exchanged, compared to its average volume of 101,392,356. The company has a market cap of $1.01 trillion, a price-to-earnings ratio of 173.01, a price-to-earnings-growth ratio of 11.41 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla has a 1-year low of $182.00 and a 1-year high of $488.54. The stock's 50-day simple moving average is $319.28 and its 200 day simple moving average is $328.10.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. On average, equities analysts forecast that Tesla will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 833,509 shares of company stock valued at $278,648,925. Corporate insiders own 20.70% of the company's stock.

Institutional Trading of Tesla

A number of large investors have recently made changes to their positions in TSLA. Susquehanna Fundamental Investments LLC purchased a new position in shares of Tesla during the fourth quarter valued at approximately $56,600,000. Means Investment CO. Inc. raised its holdings in Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after acquiring an additional 6,323 shares during the last quarter. Focus Financial Network Inc. lifted 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 purchasing an additional 670 shares during the period. Strategic Family Wealth Counselors L.L.C. boosted its holdings in shares of Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after purchasing an additional 1,629 shares during the last quarter. Finally, Harvard Management Co. Inc. purchased a new stake in shares of Tesla in the fourth quarter valued at $8,158,000. Institutional investors and hedge funds 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.

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