Tesla (NASDAQ:TSLA) Reaches New 1-Year High After Analyst Upgrade

Shares of Tesla, Inc. (NASDAQ:TSLAGet Free Report) reached a new 52-week high during trading on Monday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $470.00 to $500.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Tesla traded as high as $496.74 and last traded at $491.6860, with a volume of 11755738 shares trading hands. The stock had previously closed at $481.20.

Other analysts have also issued research reports about the company. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. Truist Financial set a $444.00 price objective on Tesla and gave the company a “hold” rating in a report on Friday. Cowen reaffirmed a “buy” rating on shares of Tesla in a report on Monday, November 17th. HSBC reiterated a “reduce” rating on shares of Tesla in a research note on Monday, November 17th. Finally, William Blair reissued a “market perform” rating on shares of Tesla in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $404.14.

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Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer directly owned 13,757 shares in the company, valued at $6,107,145.01. This trade represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 56,820 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the sale, the director owned 1,391,615 shares in the company, valued at $627,145,215.90. This represents a 3.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 19.90% of the company’s stock.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

Institutional Investors Weigh In On Tesla

Several large investors have recently bought and sold shares of the stock. Chapman Financial Group LLC purchased a new position in Tesla during the 2nd quarter worth approximately $26,000. Chelsea Counsel Co. grew its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Tesla in the 2nd quarter valued at $29,000. Manning & Napier Advisors LLC purchased a new stake in Tesla in the 3rd quarter valued at $29,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla during the 2nd quarter worth $30,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

The company’s 50-day simple moving average is $439.98 and its 200-day simple moving average is $381.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The company has a market capitalization of $1.63 trillion, a PE ratio of 324.91, a P/E/G ratio of 12.03 and a beta of 1.87.

Tesla (NASDAQ:TSLAGet Free Report) last announced its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Company Profile

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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