Royal Bank Of Canada Reaffirms Buy Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLAGet Free Report)‘s stock had its “buy” rating restated by Royal Bank Of Canada in a report released on Monday,MarketScreener reports.

TSLA has been the topic of several other research reports. CICC Research boosted their price objective on Tesla from $450.00 to $500.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Mizuho boosted their price target on shares of Tesla from $475.00 to $530.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, October 23rd. Finally, President Capital upped their target price on shares of Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $414.50.

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Tesla Price Performance

Shares of TSLA opened at $485.56 on Monday. The firm has a 50-day simple moving average of $442.16 and a two-hundred day simple moving average of $383.92. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla has a 1-year low of $214.25 and a 1-year high of $498.83. The stock has a market cap of $1.61 trillion, a PE ratio of 323.71, a P/E/G ratio of 12.35 and a beta of 1.87.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter last year, the company posted $0.72 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, analysts forecast that Tesla will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the sale, the chief financial officer directly owned 13,757 shares in the company, valued at $6,107,145.01. This trade represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the sale, the director directly owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 19.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Tesla by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 252,386,304 shares of the electric vehicle producer’s stock worth $112,241,237,000 after buying an additional 995,623 shares during the last quarter. State Street Corp lifted its position in Tesla by 0.3% in the third quarter. State Street Corp now owns 113,762,849 shares of the electric vehicle producer’s stock valued at $50,592,614,000 after acquiring an additional 344,162 shares during the last quarter. Geode Capital Management LLC boosted its stake in Tesla by 2.0% in the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after acquiring an additional 1,269,304 shares in the last quarter. Capital World Investors boosted its stake in Tesla by 5.8% in the third quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock valued at $19,583,547,000 after acquiring an additional 2,403,019 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Tesla during the second quarter worth about $11,839,824,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Key Tesla News

Here are the key news stories impacting Tesla this week:

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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