Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Tesla (NASDAQ:TSLA) Stock

Tesla (NASDAQ:TSLA) had its price target increased by investment analysts at Deutsche Bank Aktiengesellschaft from $470.00 to $500.00 in a report issued on Friday,MarketScreener reports. The brokerage presently has a “buy” rating on the electric vehicle producer’s stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 2.77% from the company’s previous close.

Several other brokerages have also recently weighed in on TSLA. Evercore ISI boosted their price objective on Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a research report on Wednesday. HSBC reissued a “reduce” rating on shares of Tesla in a research report on Monday, November 17th. Royal Bank Of Canada reissued an “outperform” rating and issued a $500.00 target price on shares of Tesla in a research report on Thursday, October 23rd. Finally, TD Cowen upped their price target on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $404.14.

Tesla Trading Up 0.7%

Shares of TSLA opened at $486.54 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. Tesla has a 52-week low of $214.25 and a 52-week high of $495.28. The firm has a market cap of $1.62 trillion, a price-to-earnings ratio of 324.36, a PEG ratio of 11.68 and a beta of 1.87. The business’s fifty day moving average is $438.62 and its 200-day moving average is $379.59.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS. Equities analysts anticipate that Tesla will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction that occurred on 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 sale, the chief financial officer owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 19.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

A number of large investors have recently added to or reduced their stakes in TSLA. Chapman Financial Group LLC bought a new position in Tesla during the second quarter valued at approximately $26,000. Chelsea Counsel Co. raised its position in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares during the period. LGT Financial Advisors LLC purchased a new stake in shares of Tesla in the 2nd quarter worth about $29,000. Manning & Napier Advisors LLC bought a new stake in shares of Tesla during the 3rd quarter valued at about $29,000. Finally, CoreFirst Bank & Trust bought a new position in Tesla in the second quarter worth about $30,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

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.