Piper Sandler Confirms Tesla (NASDAQ:TSLA) Stock Rating

Piper Sandler Confirms Tesla (NASDAQ:TSLA) Stock Rating

Piper Sandler reissued their overweight rating on shares of Tesla (NASDAQ:TSLAFree Report) in a report issued on Monday, Benzinga reports. The brokerage currently has a $205.00 price objective on the electric vehicle producer’s stock.

A number of other equities research analysts have also commented on the company. Truist Financial dropped their price target on Tesla from $193.00 to $176.00 and set a hold rating on the stock in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. dropped their price target on Tesla from $130.00 to $115.00 and set an underweight rating on the stock in a research report on Wednesday, April 3rd. Oppenheimer reaffirmed a market perform rating on shares of Tesla in a research report on Tuesday, April 2nd. Wedbush reiterated an outperform rating and set a $300.00 price objective on shares of Tesla in a report on Friday. Finally, China Renaissance started coverage on Tesla in a report on Monday, February 26th. They set a hold rating for the company. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $194.70.

Get Our Latest Research Report on TSLA

Tesla Trading Down 3.4 %

NASDAQ:TSLA traded down $5.00 during mid-day trading on Monday, hitting $142.05. The company had a trading volume of 106,166,541 shares, compared to its average volume of 101,667,250. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The business’s fifty day moving average is $178.51 and its two-hundred day moving average is $210.88. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The firm has a market cap of $452.40 billion, a P/E ratio of 32.78, a P/E/G ratio of 3.89 and a beta of 2.39.

Tesla (NASDAQ:TSLAGet Free Report) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same period in the previous year, the company posted $1.07 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, research analysts expect that Tesla will post 1.97 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on 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 completion of 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 SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,631,600. The disclosure for this sale can be found here. In the last three months, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by company insiders.

Institutional Trading of Tesla

Several hedge funds have recently added to or reduced their stakes in TSLA. Wyrmwood Management LLC acquired a new position in Tesla in the 4th quarter valued at $25,000. Lam Group Inc. acquired a new position in Tesla in the 4th quarter valued at $25,000. Mendota Financial Group LLC raised its holdings in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV raised its holdings in shares of Tesla by 94.5% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla during the 4th quarter worth $37,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Company Profile

(Get Free Report)

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.

Further Reading

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