Jefferies Financial Group Issues Positive Forecast for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLAGet Free Report) had its price target increased by equities researchers at Jefferies Financial Group from $300.00 to $350.00 in a research report issued on Monday. The firm presently has a “hold” rating on the electric vehicle producer’s stock. Jefferies Financial Group’s price target would suggest a potential downside of 11.51% from the company’s previous close.

A number of other equities analysts have also recently issued reports on TSLA. Deutsche Bank Aktiengesellschaft cut their target price on shares of Tesla from $480.00 to $465.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Mizuho set a $540.00 price objective on Tesla and gave the stock an “outperform” rating in a research report on Thursday, January 29th. William Blair reaffirmed a “market perform” rating on shares of Tesla in a research note on Friday, January 2nd. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research report on Friday, April 3rd. Finally, Wells Fargo & Company dropped their price objective on Tesla from $130.00 to $125.00 and set an “underweight” rating for the company in a research report on Thursday, January 29th. Nineteen investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $397.26.

View Our Latest Research Report on TSLA

Tesla Price Performance

Shares of TSLA traded down $5.10 on Monday, reaching $395.52. The stock had a trading volume of 10,237,413 shares, compared to its average volume of 62,588,586. The firm has a 50-day moving average of $389.71 and a 200 day moving average of $422.47. The firm has a market capitalization of $1.48 trillion, a PE ratio of 366.36, a PEG ratio of 12.67 and a beta of 1.91. Tesla has a twelve month low of $222.79 and a twelve month high of $498.83. The company has a quick ratio of 1.77, a current ratio of 2.16 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.05. The company had revenue of $24.90 billion for the quarter, compared to analyst estimates of $24.75 billion. Tesla had a return on equity of 4.86% and a net margin of 4.00%.Tesla’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.73 earnings per share. Sell-side analysts expect that Tesla will post 2.56 EPS for the current year.

Insider Activity

In other Tesla news, Director Kathleen Wilson-Thompson sold 25,809 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $359.33, for a total value of $9,273,947.97. Following the sale, the director directly owned 33,860 shares of the company’s stock, valued at approximately $12,166,913.80. This trade represents a 43.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,264 shares of Tesla stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $397.03, for a total value of $898,875.92. Following the completion of the sale, the chief financial officer owned 18,106 shares of the company’s stock, valued at $7,188,625.18. This trade represents a 11.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 53,804 shares of company stock worth $20,865,598 over the last quarter. 19.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Large investors have recently bought and sold shares of the stock. Networth Advisors LLC acquired a new position in Tesla in the fourth quarter valued at $26,000. Davidson Capital Management Inc. raised its holdings in shares of Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 27 shares during the period. Turning Point Benefit Group Inc. acquired a new position in shares of Tesla in the 3rd quarter valued at about $30,000. Manning & Napier Advisors LLC purchased a new stake in shares of Tesla during the 3rd quarter worth about $29,000. Finally, Prism Advisors Inc. purchased a new stake in shares of Tesla during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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About Tesla

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean?energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery?electric vehicles and related services.

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