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Tesla, Inc. (NASDAQ:TSLA – Get Free Report)’s stock price rose 4% during mid-day trading on Wednesday after Mizuho raised their price target on the stock from $375.00 to $450.00. Mizuho currently has an outperform rating on the stock. Tesla traded as high as $444.21 and last traded at $442.79. Approximately 91,485,110 shares traded hands during mid-day trading, a decline of 11% from the average daily volume of 103,170,719 shares. The stock had previously closed at $425.85.
Several other research firms have also issued reports on TSLA. Glj Research restated a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. Piper Sandler increased their target price on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America increased their target price on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. Finally, Wedbush reiterated an “outperform” rating and set a $500.00 target price on shares of Tesla in a research note on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $326.74.
Check Out Our Latest Stock Analysis on Tesla
Insiders Place Their Bets
In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the sale, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 in the last 90 days. Company insiders own 19.90% of the company’s stock.
Institutional Investors Weigh In On Tesla
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after purchasing an additional 4,502,976 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Tesla by 2.0% during the 2nd 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. Norges Bank acquired a new stake in shares of Tesla during the 2nd quarter valued at $11,839,824,000. Goldman Sachs Group Inc. boosted its holdings in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Tesla by 5.9% during the 2nd quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock valued at $6,424,705,000 after acquiring an additional 1,134,678 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.
Tesla Stock Performance
The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market cap of $1.47 trillion, a price-to-earnings ratio of 255.95, a P/E/G ratio of 14.86 and a beta of 2.06. The company has a fifty day moving average of $347.75 and a two-hundred day moving average of $311.58.
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the business earned $0.52 EPS. The company’s revenue was down 11.8% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.
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.
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