Tesla (NASDAQ:TSLA) Price Target Raised to $417.00 at Morgan Stanley

Tesla (NASDAQ:TSLAGet Free Report) had its price target boosted by investment analysts at Morgan Stanley from $415.00 to $417.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the electric vehicle producer’s stock. Morgan Stanley’s price objective indicates a potential upside of 5.63% from the stock’s current price.

TSLA has been the topic of a number of other research reports. William Blair reissued a “market perform” rating on shares of Tesla in a report on Thursday, July 2nd. Robert W. Baird reduced their target price on shares of Tesla from $538.00 to $522.00 and set an “outperform” rating on the stock in a research report on Friday, April 24th. TD Cowen reissued a “buy” rating on shares of Tesla in a report on Monday, June 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Tesla in a research report on Tuesday, June 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tesla in a report on Monday, June 1st. Twenty-one research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $408.07.

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Tesla Trading Down 3.2%

Shares of TSLA opened at $394.76 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. The company has a market cap of $1.48 trillion, a price-to-earnings ratio of 362.17, a PEG ratio of 14.93 and a beta of 1.80. The stock has a fifty day moving average price of $410.72 and a two-hundred day moving average price of $408.03. Tesla has a 52-week low of $297.82 and a 52-week high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last announced its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The company had revenue of $22.39 billion for the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. Analysts predict that Tesla will post 1.3 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the sale, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $402.20, for a total value of $1,048,133.20. Following the completion of the transaction, the chief financial officer directly owned 22,039 shares in the company, valued at $8,864,085.80. The trade was a 10.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 32,015 shares of company stock valued at $12,383,640 in the last quarter. 19.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. PFS Partners LLC raised its holdings in Tesla by 4.2% in the fourth quarter. PFS Partners LLC now owns 590 shares of the electric vehicle producer’s stock worth $265,000 after purchasing an additional 24 shares during the period. Boltwood Capital Management increased its position in shares of Tesla by 1.2% in the 4th quarter. Boltwood Capital Management now owns 2,120 shares of the electric vehicle producer’s stock valued at $953,000 after buying an additional 25 shares in the last quarter. Woodmont Investment Counsel LLC increased its position in shares of Tesla by 1.2% in the 4th quarter. Woodmont Investment Counsel LLC now owns 2,124 shares of the electric vehicle producer’s stock valued at $955,000 after buying an additional 25 shares in the last quarter. Aspect Partners LLC raised its stake in Tesla by 12.5% during the 4th quarter. Aspect Partners LLC now owns 225 shares of the electric vehicle producer’s stock worth $101,000 after buying an additional 25 shares during the period. Finally, Human Investing LLC lifted its holdings in Tesla by 4.5% during the fourth quarter. Human Investing LLC now owns 578 shares of the electric vehicle producer’s stock worth $260,000 after acquiring an additional 25 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

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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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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