Tigress Financial Begins Coverage on Tesla (NASDAQ:TSLA)

Equities researchers at Tigress Financial began coverage on shares of Tesla (NASDAQ:TSLAGet Free Report) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $550.00 price target on the electric vehicle producer’s stock. Tigress Financial’s price objective would suggest a potential upside of 31.76% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. TD Cowen increased their target price on Tesla from $509.00 to $519.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Benchmark reaffirmed a “buy” rating on shares of Tesla in a research note on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $510.00 price objective on shares of Tesla in a research report on Thursday, January 29th. Truist Financial reduced their target price on shares of Tesla from $439.00 to $438.00 and set a “hold” rating on the stock in a report on Thursday, January 29th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Tesla in a research note on Thursday, January 29th. Eighteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $408.09.

Read Our Latest Report on TSLA

Tesla Price Performance

Shares of NASDAQ TSLA opened at $417.44 on Thursday. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $444.24 and its 200 day moving average price is $414.03. Tesla has a 52 week low of $214.25 and a 52 week high of $498.83. The stock has a market cap of $1.57 trillion, a price-to-earnings ratio of 386.52, a PEG ratio of 14.12 and a beta of 1.86.

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

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction dated 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 transaction, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at $6,107,145.01. The trade was a 16.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kimbal Musk sold 56,820 shares of the business’s 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 owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. The trade was a 3.92% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 119,457 shares of company stock valued at $53,501,145. 19.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

Several institutional investors have recently bought and sold shares of the business. Networth Advisors LLC acquired a new position in Tesla during the 4th quarter worth approximately $26,000. Davidson Capital Management Inc. lifted its position in shares of Tesla by 79.4% during the fourth 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 in the last quarter. Turning Point Benefit Group Inc. purchased a new position in shares of Tesla in the third quarter valued at $30,000. Manning & Napier Advisors LLC purchased a new position in shares of Tesla in the third quarter valued at $29,000. Finally, Prism Advisors Inc. acquired a new stake in Tesla during the 4th quarter valued at $30,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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Tesla Company Profile

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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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