Tesla (NASDAQ:TSLA) Price Target Increased to $310.00 by Analysts at Piper Sandler

Tesla (NASDAQ:TSLA) had its price target increased by Piper Sandler from $300.00 to $310.00 in a report issued on Wednesday, MarketBeat.com reports. The firm currently has an overweight rating on the electric vehicle producer’s stock.

A number of other equities analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft reissued a buy rating and issued a $295.00 price target on shares of Tesla in a research report on Tuesday, September 10th. Wedbush reissued an outperform rating and set a $300.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Morgan Stanley restated an overweight rating and set a $310.00 price target on shares of Tesla in a report on Thursday, September 5th. Canaccord Genuity Group reiterated a buy rating and issued a $254.00 price objective on shares of Tesla in a research note on Friday, September 13th. Finally, Sanford C. Bernstein restated an underperform rating and set a $120.00 target price on shares of Tesla in a research note on Monday, June 10th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $209.90.

Tesla Trading Up 1.1 %

Shares of NASDAQ:TSLA opened at $257.02 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $821.09 billion, a PE ratio of 65.57, a P/E/G ratio of 6.80 and a beta of 2.29. Tesla has a 1 year low of $138.80 and a 1 year high of $271.00. The firm has a fifty day moving average price of $221.20 and a 200 day moving average price of $197.14.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter last year, the company posted $0.78 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. Analysts expect that Tesla will post 1.75 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 in the last ninety days. Insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Hedge funds have recently added to or reduced their stakes in the stock. Morse Asset Management Inc increased its holdings in shares of Tesla by 138.1% in the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after purchasing an additional 3,462 shares in the last quarter. Atalanta Sosnoff Capital LLC boosted its position in Tesla by 3.7% in the 4th quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock valued at $45,546,000 after buying an additional 6,575 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Tesla by 7.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after buying an additional 1,943 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after acquiring an additional 206,248 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Tesla during the first quarter valued at $1,941,000. Institutional investors 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.