JPMorgan Chase & Co. Increases Tesla (NASDAQ:TSLA) Price Target to $135.00

Tesla (NASDAQ:TSLA) had its price target increased by investment analysts at JPMorgan Chase & Co. from $130.00 to $135.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the electric vehicle producer’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 36.81% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday. TD Cowen upped their price target on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Guggenheim upped their price target on shares of Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Robert W. Baird restated an “outperform” rating and set a $280.00 price target on shares of Tesla in a research note on Tuesday, August 20th. Finally, Piper Sandler increased their price target on shares of Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $216.87.

Tesla Trading Down 2.0 %

TSLA opened at $213.65 on Thursday. The company has a market cap of $682.53 billion, a P/E ratio of 60.01, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The company has a fifty day moving average price of $228.54 and a two-hundred day moving average price of $206.41. Tesla has a 1-year low of $138.80 and a 1-year high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts predict that Tesla will post 1.75 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.70% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in TSLA. PFG Investments LLC increased its position in Tesla by 10.3% during the 3rd quarter. PFG Investments LLC now owns 123,895 shares of the electric vehicle producer’s stock worth $32,415,000 after purchasing an additional 11,611 shares in the last quarter. Viewpoint Capital Management LLC boosted its stake in Tesla by 0.5% during the third quarter. Viewpoint Capital Management LLC now owns 18,607 shares of the electric vehicle producer’s stock worth $4,846,000 after acquiring an additional 88 shares in the last quarter. Masso Torrence Wealth Management Inc. lifted its stake in shares of Tesla by 3.7% in the third quarter. Masso Torrence Wealth Management Inc. now owns 5,333 shares of the electric vehicle producer’s stock valued at $1,395,000 after buying an additional 188 shares in the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of Tesla by 6.5% in the third quarter. NorthCrest Asset Manangement LLC now owns 8,765 shares of the electric vehicle producer’s stock valued at $2,293,000 after purchasing an additional 536 shares during the last quarter. Finally, Forsta AP Fonden raised its holdings in shares of Tesla by 11.4% in the third quarter. Forsta AP Fonden now owns 734,700 shares of the electric vehicle producer’s stock valued at $192,220,000 after purchasing an additional 75,100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

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.