Tesla (NASDAQ:TSLA) Price Target Raised to $470.00 at Deutsche Bank Aktiengesellschaft

Tesla (NASDAQ:TSLA) had its target price boosted by Deutsche Bank Aktiengesellschaft from $440.00 to $470.00 in a report released on Monday morning,MarketScreener reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the electric vehicle producer’s stock.

Several other research firms have also commented on TSLA. CICC Research boosted their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. Melius initiated coverage on shares of Tesla in a report on Monday, October 13th. They issued a “buy” rating and a $520.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. Mizuho lifted their target price on shares of Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Finally, Piper Sandler lifted their target price on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and eleven have assigned a Sell rating to the company. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $391.08.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $456.19 on Monday. The stock has a market cap of $1.52 trillion, a PE ratio of 304.49, a PEG ratio of 16.84 and a beta of 2.08. The company’s fifty day moving average is $412.95 and its 200 day moving average is $350.47. Tesla has a 52 week low of $214.25 and a 52 week high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. Research analysts anticipate that Tesla will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last 90 days. 19.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TSLA. Norges Bank acquired a new position in Tesla in the second quarter valued at about $11,839,824,000. Goldman Sachs Group Inc. grew its position in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Tesla during the first quarter worth $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after purchasing an additional 6,435,598 shares during the period. Finally, Vanguard Group Inc. raised its position in Tesla by 1.8% in the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after acquiring an additional 4,502,976 shares in the last quarter. Hedge funds and other 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.