Evercore ISI Increases Tesla (NASDAQ:TSLA) Price Target to $300.00

Tesla (NASDAQ:TSLAGet Rating) had its price objective upped by Evercore ISI from $267.00 to $300.00 in a note issued to investors on Thursday, The Fly reports. Evercore ISI’s target price would indicate a potential upside of 46.35% from the company’s previous close.

TSLA has been the topic of a number of other research reports. Berenberg Bank reduced their target price on Tesla from $300.00 to $283.33 in a report on Thursday, July 21st. Piper Sandler reduced their target price on Tesla from $360.00 to $340.00 and set an “overweight” rating on the stock in a report on Thursday, September 29th. Cowen upped their target price on Tesla from $233.33 to $244.33 and gave the stock a “market perform” rating in a report on Thursday, July 21st. Wells Fargo & Company upped their target price on Tesla from $273.33 to $276.67 and gave the stock an “equal weight” rating in a report on Thursday, July 21st. Finally, Canaccord Genuity Group upped their target price on Tesla from $271.67 to $293.67 and gave the stock a “buy” rating in a report on Monday, August 8th. Seven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $285.65.

Tesla Stock Down 7.5 %

Shares of NASDAQ:TSLA opened at $204.99 on Thursday. Tesla has a 1 year low of $204.16 and a 1 year high of $414.50. The company has a market cap of $637.12 billion, a PE ratio of 74.09, a P/E/G ratio of 1.90 and a beta of 2.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.43 and a quick ratio of 1.06. The stock’s 50-day moving average is $277.82 and its 200 day moving average is $274.03.

Tesla (NASDAQ:TSLAGet Rating) last announced its quarterly earnings results on Wednesday, July 20th. The electric vehicle producer reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. Tesla had a return on equity of 29.04% and a net margin of 14.17%. The company had revenue of $16.93 billion for the quarter, compared to the consensus estimate of $16.92 billion. During the same quarter in the previous year, the business earned $0.34 EPS. Tesla’s revenue was up 41.6% compared to the same quarter last year. Sell-side analysts anticipate that Tesla will post 3.6 EPS for the current year.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 26,250 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $278.93, for a total value of $7,321,912.50. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,506,222. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, Director Kathleen Wilson-Thompson sold 26,250 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $278.93, for a total value of $7,321,912.50. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $1,506,222. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew D. Baglino sold 3,500 shares of the stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $791.50, for a total value of $2,770,250.00. Following the completion of the sale, the senior vice president now owns 20,567 shares of the company’s stock, valued at approximately $16,278,780.50. The disclosure for this sale can be found here. Insiders sold 84,500 shares of company stock worth $41,138,505 in the last three months. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently bought and sold shares of the business. Acorn Financial Advisory Services Inc. ADV grew its position in shares of Tesla by 0.4% during the first quarter. Acorn Financial Advisory Services Inc. ADV now owns 2,404 shares of the electric vehicle producer’s stock valued at $2,591,000 after purchasing an additional 10 shares in the last quarter. Shilanski & Associates Inc. grew its position in shares of Tesla by 4.9% during the first quarter. Shilanski & Associates Inc. now owns 215 shares of the electric vehicle producer’s stock valued at $232,000 after purchasing an additional 10 shares in the last quarter. Tennessee Valley Asset Management Partners grew its position in shares of Tesla by 3.2% during the first quarter. Tennessee Valley Asset Management Partners now owns 323 shares of the electric vehicle producer’s stock valued at $348,000 after purchasing an additional 10 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Tesla by 5.8% in the 1st quarter. Empowered Funds LLC now owns 202 shares of the electric vehicle producer’s stock valued at $218,000 after acquiring an additional 11 shares during the last quarter. Finally, Tradewinds Capital Management LLC lifted its holdings in shares of Tesla by 2.1% in the 1st quarter. Tradewinds Capital Management LLC now owns 525 shares of the electric vehicle producer’s stock valued at $566,000 after acquiring an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 43.01% of the company’s stock.

About Tesla

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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.

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