Tesla (NASDAQ:TSLA – Get Free Report)‘s stock had its “overweight” rating reiterated by equities researchers at Morgan Stanley in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $310.00 target price on the electric vehicle producer’s stock. Morgan Stanley’s price objective would indicate a potential upside of 69.72% from the company’s previous close.
Several other equities analysts have also recently commented on TSLA. Wedbush reissued an “outperform” rating and issued a $275.00 price target on shares of Tesla in a research report on Friday, June 14th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research report on Monday, June 10th. Wells Fargo & Company decreased their price target on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research report on Friday, April 12th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $175.00 price objective on shares of Tesla in a research report on Friday, June 14th. Finally, Evercore ISI decreased their price objective on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday, April 29th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $183.62.
Tesla Trading Down 1.2 %
Shares of NASDAQ TSLA traded down $2.21 during midday trading on Thursday, reaching $182.65. 29,123,513 shares of the stock were exchanged, compared to its average volume of 96,098,406. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The stock has a market capitalization of $582.51 billion, a P/E ratio of 46.59, a PEG ratio of 4.58 and a beta of 2.32. The company has a 50 day simple moving average of $173.61 and a 200 day simple moving average of $194.17. Tesla has a twelve month low of $138.80 and a twelve month high of $299.29.
Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. As a group, equities analysts expect that Tesla will post 1.87 earnings per share for the current year.
Insider Transactions at Tesla
In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders have sold a total of 104,855 shares of company stock worth $19,285,643 over the last ninety days. 25.10% of the stock is currently owned by company insiders.
Institutional Trading of Tesla
Several institutional investors and hedge funds have recently modified their holdings of TSLA. Wyrmwood Management LLC purchased a new stake in shares of Tesla in the fourth quarter valued at about $25,000. Lam Group Inc. purchased a new stake in shares of Tesla in the fourth quarter valued at about $25,000. Mendota Financial Group LLC lifted its holdings in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla in the fourth quarter valued at about $37,000. Finally, Kathleen S. Wright Associates Inc. lifted its holdings in shares of Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. 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.
Further Reading
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