Tesla Inc. (NASDAQ:TSLA) has been assigned a $386.00 price target by stock analysts at Piper Jaffray Companies in a research note issued on Monday, October 16th. The firm currently has a “buy” rating on the electric vehicle producer’s stock. Piper Jaffray Companies’ price target points to a potential upside of 20.30% from the company’s previous close.
Several other equities research analysts have also issued reports on the stock. Sanford C. Bernstein set a $265.00 target price on shares of Tesla and gave the stock a “neutral” rating in a research note on Wednesday, September 20th. BidaskClub lowered shares of Tesla from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Citigroup Inc. began coverage on shares of Tesla in a research note on Thursday, July 20th. They set a “neutral” rating and a $357.00 target price on the stock. Berenberg Bank reissued a “buy” rating on shares of Tesla in a research note on Thursday, August 3rd. Finally, Vetr raised shares of Tesla from a “hold” rating to a “buy” rating and set a $372.51 price target on the stock in a research note on Thursday, August 10th. Ten research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. Tesla currently has a consensus rating of “Hold” and a consensus target price of $333.50.
Tesla (NASDAQ:TSLA) opened at 320.87 on Monday. Tesla has a 12 month low of $178.19 and a 12 month high of $389.61. The stock’s market cap is $53.55 billion. The stock’s 50 day moving average price is $353.79 and its 200-day moving average price is $340.94.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($2.00) by $0.67. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The firm’s revenue for the quarter was up 119.6% compared to the same quarter last year. During the same period last year, the firm earned ($1.06) EPS. Analysts anticipate that Tesla will post ($6.63) EPS for the current fiscal year.
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In related news, Director Stephen T. Jurvetson sold 44,777 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total value of $15,240,299.72. Following the completion of the sale, the director now directly owns 36,111 shares of the company’s stock, valued at $12,290,739.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Eric Branderiz sold 99 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total transaction of $34,661.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,182 shares of company stock valued at $18,094,284. 23.10% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Tesla by 4.9% in the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock valued at $2,251,890,000 after purchasing an additional 292,602 shares during the period. Whale Rock Capital Management LLC acquired a new position in Tesla in the second quarter valued at $66,601,000. Jasper Ridge Partners L.P. increased its stake in Tesla by 7,001.5% in the second quarter. Jasper Ridge Partners L.P. now owns 161,276 shares of the electric vehicle producer’s stock valued at $58,319,000 after purchasing an additional 159,005 shares during the period. Quantitative Investment Management LLC acquired a new position in Tesla in the second quarter valued at $52,108,000. Finally, Janus Henderson Group PLC increased its stake in Tesla by 131.8% in the second quarter. Janus Henderson Group PLC now owns 241,476 shares of the electric vehicle producer’s stock valued at $87,329,000 after purchasing an additional 137,318 shares during the period. 56.64% of the stock is owned by hedge funds and other institutional investors.
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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