The Goldman Sachs Group reiterated their neutral rating on shares of Tesla (NASDAQ:TSLA – Free Report) in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $175.00 target price on the electric vehicle producer’s stock.
A number of other analysts have also issued reports on TSLA. Robert W. Baird reiterated an outperform rating and issued a $280.00 price target on shares of Tesla in a report on Wednesday, April 17th. Barclays cut their price target on Tesla from $225.00 to $180.00 and set an equal weight rating on the stock in a research note on Wednesday, April 17th. UBS Group lowered their price objective on shares of Tesla from $160.00 to $147.00 and set a neutral rating for the company in a research note on Wednesday, April 24th. New Street Research reissued a buy rating and set a $235.00 target price on shares of Tesla in a research report on Tuesday, June 25th. Finally, Roth Mkm reaffirmed a neutral rating and issued a $85.00 price target on shares of Tesla in a research report on Wednesday, April 24th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Tesla has a consensus rating of Hold and a consensus target price of $189.47.
Read Our Latest Research Report on TSLA
Tesla Price Performance
TSLA opened at $246.39 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $180.89 and a 200 day moving average of $190.93. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29. The stock has a market cap of $785.79 billion, a P/E ratio of 62.85, a PEG ratio of 4.91 and a beta of 2.31.
Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. As a group, sell-side analysts anticipate that Tesla will post 1.86 EPS for the current year.
Insider Activity at Tesla
In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. Norges Bank purchased a new position in shares of Tesla during the 4th quarter valued at approximately $7,844,757,000. Morgan Stanley grew its stake in Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after acquiring an additional 2,177,397 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Tesla by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after acquiring an additional 458,804 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after acquiring an additional 1,125,329 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.
About Tesla
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.
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