Tesla (NASDAQ:TSLA) Given New $248.00 Price Target at The Goldman Sachs Group

Tesla (NASDAQ:TSLA) had its price target upped by The Goldman Sachs Group from $175.00 to $248.00 in a research note published on Wednesday, Marketbeat Ratings reports. They currently have a neutral rating on the electric vehicle producer’s stock.

A number of other analysts also recently weighed in on TSLA. Cantor Fitzgerald reaffirmed an overweight rating and set a $230.00 price target on shares of Tesla in a report on Monday, July 1st. Barclays dropped their price objective on shares of Tesla from $225.00 to $180.00 and set an equal weight rating for the company in a research note on Wednesday, April 17th. UBS Group dropped their price objective on shares of Tesla from $160.00 to $147.00 and set a neutral rating for the company in a research note on Wednesday, April 24th. Wedbush increased their price objective on shares of Tesla from $275.00 to $300.00 and gave the company an outperform rating in a research note on Wednesday, July 3rd. Finally, Morgan Stanley reissued an overweight rating and issued a $310.00 price objective on shares of Tesla in a research note on Thursday, June 20th. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $201.58.

Tesla Stock Up 3.0 %

Tesla stock opened at $248.23 on Wednesday. The firm has a market capitalization of $791.66 billion, a PE ratio of 63.32, a P/E/G ratio of 6.02 and a beta of 2.31. The company’s 50-day moving average is $192.75 and its 200-day moving average is $191.27. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Sell-side analysts anticipate that Tesla will post 1.85 earnings per share for the current year.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Quad Cities Investment Group LLC increased its stake in shares of Tesla by 5.5% in the 2nd quarter. Quad Cities Investment Group LLC now owns 4,758 shares of the electric vehicle producer’s stock worth $942,000 after acquiring an additional 250 shares in the last quarter. Sunburst Financial Group LLC bought a new position in shares of Tesla in the 2nd quarter worth about $230,000. Retirement Planning Group LLC bought a new position in shares of Tesla in the 2nd quarter worth about $237,000. Biltmore Wealth Management LLC increased its stake in shares of Tesla by 2.1% in the 2nd quarter. Biltmore Wealth Management LLC now owns 3,339 shares of the electric vehicle producer’s stock worth $661,000 after acquiring an additional 70 shares in the last quarter. Finally, GSG Advisors LLC increased its stake in Tesla by 13.0% during the 2nd quarter. GSG Advisors LLC now owns 1,495 shares of the electric vehicle producer’s stock valued at $314,000 after purchasing an additional 172 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Company Profile

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.