Tesla (NASDAQ:TSLA) Stock Rating Reaffirmed by Royal Bank of Canada

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $298.00 price target on the electric vehicle producer’s stock. Royal Bank of Canada’s price target suggests a potential upside of 65.92% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim raised their price objective on shares of Tesla from $125.00 to $132.00 and gave the company a “sell” rating in a research report on Friday, December 15th. The Goldman Sachs Group lowered their price target on shares of Tesla from $220.00 to $190.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Truist Financial lowered their price target on shares of Tesla from $227.00 to $193.00 and set a “hold” rating for the company in a research report on Thursday, January 25th. Citigroup reduced their price objective on shares of Tesla from $224.00 to $196.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Canaccord Genuity Group reduced their price objective on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $207.04.

Tesla Stock Up 1.1 %

Tesla stock traded up $1.93 during trading hours on Wednesday, hitting $179.60. The company had a trading volume of 62,808,730 shares, compared to its average volume of 102,745,398. The firm has a market capitalization of $571.99 billion, a P/E ratio of 41.65, a price-to-earnings-growth ratio of 3.90 and a beta of 2.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The firm’s fifty day moving average is $189.34 and its 200-day moving average is $222.86. Tesla has a fifty-two week low of $152.37 and a fifty-two week high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same quarter last year, the company earned $1.07 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, research analysts forecast that Tesla will post 2.44 earnings per share for the current year.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold 198,598 shares of company stock valued at $36,952,434 in the last ninety days. Insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

Several hedge funds have recently added to or reduced their stakes in TSLA. HighPoint Advisor Group LLC purchased a new position in shares of Tesla during the fourth quarter worth approximately $23,306,000. Fairman Group LLC purchased a new position in shares of Tesla during the fourth quarter worth approximately $486,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Tesla by 2,101.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after acquiring an additional 1,402,443 shares during the last quarter. Warren Street Wealth Advisors LLC grew its position in Tesla by 3.1% in the 4th quarter. Warren Street Wealth Advisors LLC now owns 4,591 shares of the electric vehicle producer’s stock valued at $1,141,000 after buying an additional 137 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new stake in Tesla in the fourth quarter valued at $70,000. Institutional investors and hedge funds 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.