Tesla (NASDAQ:TSLA) Given New $300.00 Price Target at Wedbush

Tesla (NASDAQ:TSLA) had its price objective decreased by investment analysts at Wedbush from $315.00 to $300.00 in a report released on Thursday, Marketbeat reports. The brokerage currently has an “outperform” rating on the electric vehicle producer’s stock. Wedbush’s price target would indicate a potential upside of 66.82% from the company’s previous close.

TSLA has been the subject of a number of other reports. Morgan Stanley reiterated an “overweight” rating and set a $320.00 price target on shares of Tesla in a report on Wednesday. China Renaissance initiated coverage on Tesla in a research report on Monday, February 26th. They set a “hold” rating for the company. Redburn Atlantic initiated coverage on Tesla in a research note on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price on the stock. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Monday. Finally, Robert W. Baird reissued an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research note on Thursday, January 25th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $204.63.

Tesla Stock Performance

NASDAQ TSLA opened at $179.83 on Thursday. The stock’s fifty day moving average is $188.49 and its two-hundred day moving average is $222.36. The firm has a market capitalization of $572.72 billion, a P/E ratio of 41.72, a price-to-earnings-growth ratio of 4.01 and a beta of 2.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla has a fifty-two week low of $152.37 and a fifty-two week high of $299.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm posted $1.07 EPS. On average, research analysts anticipate that Tesla will post 2.44 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 198,598 shares of company stock valued at $36,952,434 in the last three months. 20.90% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

A number of hedge funds have recently added to or reduced their stakes in TSLA. Contravisory Investment Management Inc. acquired a new stake in Tesla during the 3rd quarter worth approximately $25,000. Wyrmwood Management LLC acquired a new stake in shares of Tesla in the 4th quarter valued at approximately $25,000. Lam Group Inc. acquired a new stake in shares of Tesla in the 4th quarter valued at approximately $25,000. Halpern Financial Inc. lifted its holdings in shares of Tesla by 1,111.1% in the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 100 shares during the period. Finally, Alpha Paradigm Partners LLC acquired a new stake in shares of Tesla in the 3rd quarter valued at approximately $27,000. 66.20% of the stock is owned by institutional investors and hedge funds.

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.