Tesla (TSLA) Given a $470.00 Price Target by Berenberg Bank Analysts

Tesla (NASDAQ:TSLA) received a $470.00 price objective from research analysts at Berenberg Bank in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the electric vehicle producer’s stock. Berenberg Bank’s target price suggests a potential upside of 49.10% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Nomura reissued a “buy” rating and set a $500.00 target price on shares of Tesla in a research report on Tuesday, October 31st. Robert W. Baird reaffirmed a “buy” rating and issued a $411.00 price objective on shares of Tesla in a research report on Wednesday, October 25th. Piper Jaffray Companies set a $386.00 price objective on Tesla and gave the company a “buy” rating in a research report on Monday, October 16th. Global Equities Research reaffirmed a “buy” rating and issued a $485.00 price objective on shares of Tesla in a research report on Wednesday, November 29th. Finally, Vetr raised Tesla from a “sell” rating to a “buy” rating and set a $331.07 price objective on the stock in a research report on Tuesday, December 26th. Eleven investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $328.40.

Tesla (NASDAQ:TSLA) traded down $29.77 during midday trading on Thursday, hitting $315.23. The stock had a trading volume of 10,300,000 shares, compared to its average volume of 5,530,000. The company has a market cap of $52,980.00, a P/E ratio of -36.83 and a beta of 0.97. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 1.66. Tesla has a 52-week low of $242.01 and a 52-week high of $389.61.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.12) by $0.08. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.26 billion. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The company’s revenue for the quarter was up 43.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.69) EPS. research analysts expect that Tesla will post -11.38 EPS for the current fiscal year.

In related news, VP Eric Branderiz sold 801 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $354.58, for a total transaction of $284,018.58. Following the completion of the sale, the vice president now directly owns 1,287 shares in the company, valued at approximately $456,344.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 4,065 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $312.08, for a total value of $1,268,605.20. Following the sale, the director now owns 154,589 shares of the company’s stock, valued at $48,244,135.12. The disclosure for this sale can be found here. Insiders have sold a total of 11,967 shares of company stock valued at $3,817,242 over the last 90 days. 23.10% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rikoon Group LLC increased its position in Tesla by 7.8% during the 2nd quarter. Rikoon Group LLC now owns 691 shares of the electric vehicle producer’s stock valued at $249,000 after buying an additional 50 shares in the last quarter. Advisory Services Network LLC increased its position in Tesla by 21.6% during the 2nd quarter. Advisory Services Network LLC now owns 534 shares of the electric vehicle producer’s stock valued at $193,000 after buying an additional 95 shares in the last quarter. Gofen & Glossberg LLC IL increased its position in Tesla by 13.6% during the 2nd quarter. Gofen & Glossberg LLC IL now owns 1,037 shares of the electric vehicle producer’s stock valued at $375,000 after buying an additional 124 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Tesla by 20.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 900 shares of the electric vehicle producer’s stock valued at $306,000 after buying an additional 150 shares in the last quarter. Finally, Nippon Life Insurance Co. increased its position in Tesla by 3.4% during the 3rd quarter. Nippon Life Insurance Co. now owns 4,620 shares of the electric vehicle producer’s stock valued at $1,576,000 after buying an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 57.35% of the company’s stock.

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About Tesla

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

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