Tesla (NASDAQ:TSLA) has been assigned a $400.00 price target by analysts at Goldman Sachs Group in a note issued to investors on Monday, AnalystRatings.com reports.
The firm currently has a “neutral” rating on the electric vehicle producer’s stock. Goldman Sachs Group’s price objective would indicate a potential downside of 3.64% from the stock’s previous close.
Other analysts also recently issued research reports about the company. Bank of America upgraded Tesla from an “underperform” rating to a “neutral” rating in a research report on Friday, August 14th. DZ Bank reiterated a “sell” rating on shares of Tesla in a report on Monday, August 31st. Roth Capital raised shares of Tesla from a “sell” rating to a “neutral” rating and raised their price target for the stock from $70.00 to $150.00 in a report on Monday, July 13th. Jefferies Financial Group restated a “buy” rating on shares of Tesla in a research report on Monday, August 31st. Finally, Oppenheimer reiterated a “buy” rating on shares of Tesla in a report on Friday. Nine research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $204.81.
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TSLA stock opened at $415.09 on Monday. The firm has a market cap of $384.73 billion, a P/E ratio of 1,080.96, a P/E/G ratio of 15.47 and a beta of 1.63. The firm’s fifty day moving average is $408.18 and its 200 day moving average is $242.90. Tesla has a 52 week low of $44.86 and a 52 week high of $502.49. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.92 and a current ratio of 1.25.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.91. Tesla had a net margin of 1.43% and a return on equity of 4.19%. The business had revenue of $6.04 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same period in the prior year, the business posted ($0.22) earnings per share. As a group, analysts forecast that Tesla will post 0.69 EPS for the current year.
In other news, SVP Andrew D. Baglino sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $387.44, for a total value of $581,160.00. Following the transaction, the senior vice president now owns 21,837 shares in the company, valued at $8,460,527.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Zachary Kirkhorn sold 1,250 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $416.15, for a total transaction of $520,187.50. Following the sale, the chief financial officer now owns 58,124 shares in the company, valued at approximately $24,188,302.60. The disclosure for this sale can be found here. Insiders sold 65,404 shares of company stock worth $66,077,843 over the last three months. Corporate insiders own 23.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in TSLA. Capstone Financial Group Inc. purchased a new stake in Tesla during the 2nd quarter valued at $25,000. Danda Trouve Investment Management Inc. raised its stake in shares of Tesla by 76.5% in the second quarter. Danda Trouve Investment Management Inc. now owns 30 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 13 shares during the last quarter. Asset Advisors Investment Management LLC bought a new position in shares of Tesla during the second quarter valued at $39,000. Beese Fulmer Investment Management Inc. purchased a new stake in shares of Tesla during the second quarter valued at $42,000. Finally, Jacobi Capital Management LLC increased its holdings in Tesla by 79.2% in the 2nd quarter. Jacobi Capital Management LLC now owns 43 shares of the electric vehicle producer’s stock worth $46,000 after buying an additional 19 shares in the last quarter. Institutional investors own 48.22% of the company’s stock.
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.