Tesla (NASDAQ:TSLA) Price Target Raised to $550.00 at Wedbush

Tesla (NASDAQ:TSLA) had its price objective upped by Wedbush from $515.00 to $550.00 in a research report released on Wednesday morning, MarketBeat.com reports. Wedbush currently has an outperform rating on the electric vehicle producer’s stock.

TSLA has been the topic of several other reports. Bank of America lowered shares of Tesla from a “buy” rating to a “neutral” rating and increased their target price for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Glj Research restated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research report on Friday, January 3rd. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research report on Thursday, October 24th. Cantor Fitzgerald boosted their price target on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $313.84.

Tesla Stock Down 1.4 %

Tesla stock opened at $406.58 on Wednesday. Tesla has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a market cap of $1.31 trillion, a price-to-earnings ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The business’s 50-day moving average price is $397.11 and its 200 day moving average price is $292.97. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. As a group, sell-side analysts anticipate that Tesla will post 2.01 earnings per share for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is currently owned by insiders.

Institutional Trading of Tesla

A number of large investors have recently modified their holdings of the stock. Tempus Wealth Planning LLC boosted its holdings in Tesla by 17.7% in the fourth quarter. Tempus Wealth Planning LLC now owns 11,507 shares of the electric vehicle producer’s stock valued at $4,647,000 after purchasing an additional 1,727 shares during the period. Calamos Wealth Management LLC raised its position in Tesla by 31.7% in the 4th quarter. Calamos Wealth Management LLC now owns 26,498 shares of the electric vehicle producer’s stock valued at $10,701,000 after purchasing an additional 6,381 shares in the last quarter. Patron Partners LLC grew its position in shares of Tesla by 36.1% during the fourth quarter. Patron Partners LLC now owns 3,007 shares of the electric vehicle producer’s stock worth $1,214,000 after buying an additional 797 shares in the last quarter. Grunden Financial Advisory Inc. purchased a new stake in shares of Tesla during the fourth quarter worth approximately $252,000. Finally, Clay Northam Wealth Management LLC raised its holdings in Tesla by 5.6% in the fourth quarter. Clay Northam Wealth Management LLC now owns 14,430 shares of the electric vehicle producer’s stock valued at $5,827,000 after acquiring an additional 771 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.