Tesla (NASDAQ:TSLA) Given New $442.00 Price Target at UBS Group

Tesla (NASDAQ:TSLAFree Report) had its price objective boosted by UBS Group from $364.00 to $442.00 in a research note issued to investors on Thursday morning, MarketBeat.com reports. UBS Group currently has a neutral rating on the electric vehicle producer’s stock.

Other equities research analysts have also issued research reports about the company. HSBC restated a “hold” rating on shares of Tesla in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Tesla in a research report on Tuesday, June 30th. Erste Group Bank upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Friday, June 5th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Tesla in a report on Wednesday, June 24th. Finally, TD Cowen restated a “buy” rating on shares of Tesla in a research note on Monday, June 29th. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $406.87.

Read Our Latest Stock Report on TSLA

Tesla Stock Performance

Shares of TSLA stock opened at $406.55 on Thursday. The firm has a market cap of $1.53 trillion, a price-to-earnings ratio of 372.98, a PEG ratio of 14.50 and a beta of 1.80. The company’s 50 day moving average is $409.76 and its 200 day moving average is $409.24. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. Tesla has a 52-week low of $297.82 and a 52-week high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $22.39 billion during the quarter, compared to analyst estimates of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.Tesla’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. On average, sell-side analysts anticipate that Tesla will post 1.29 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the completion of the sale, the chief financial officer directly owned 22,039 shares in the company, valued at $8,864,085.80. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the transaction, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,015 shares of company stock valued at $12,383,640 over the last quarter. 19.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

A number of hedge funds have recently modified their holdings of TSLA. Defender Capital LLC. grew its position in Tesla by 16.1% in the 2nd quarter. Defender Capital LLC. now owns 29,925 shares of the electric vehicle producer’s stock valued at $12,586,000 after acquiring an additional 4,143 shares in the last quarter. Financial Management Professionals Inc. boosted its stake in shares of Tesla by 1.4% in the 2nd quarter. Financial Management Professionals Inc. now owns 4,936 shares of the electric vehicle producer’s stock valued at $2,076,000 after buying an additional 68 shares during the period. Harrell Investment Partners LLC increased its position in shares of Tesla by 1.7% in the 2nd quarter. Harrell Investment Partners LLC now owns 15,715 shares of the electric vehicle producer’s stock valued at $6,610,000 after purchasing an additional 266 shares during the last quarter. First Bank & Trust lifted its position in shares of Tesla by 5.3% during the 2nd quarter. First Bank & Trust now owns 2,943 shares of the electric vehicle producer’s stock worth $1,238,000 after purchasing an additional 147 shares during the last quarter. Finally, Revolve Wealth Partners LLC grew its stake in shares of Tesla by 1.7% during the second quarter. Revolve Wealth Partners LLC now owns 6,324 shares of the electric vehicle producer’s stock worth $2,660,000 after purchasing an additional 108 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

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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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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