Tesla Inc (TSLA) Earns “Sell” Rating from Goldman Sachs Group Inc

Tesla Inc (NASDAQ:TSLA)‘s stock had its “sell” rating reiterated by Goldman Sachs Group Inc in a research note issued on Thursday.

Other research analysts have also issued reports about the stock. Guggenheim started coverage on shares of Tesla in a research note on Wednesday, January 4th. They set a “buy” rating and a $280.00 target price on the stock. Robert W. Baird reissued a “buy” rating on shares of Tesla in a research note on Wednesday, December 14th. FBN Securities set a $260.00 target price on shares of Tesla and gave the stock a “buy” rating in a research note on Wednesday, January 4th. Dougherty & Co cut their target price on shares of Tesla from $500.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 23rd. Finally, TheStreet raised shares of Tesla from a “d+” rating to a “c-” rating in a research note on Wednesday, January 25th. Eight equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $266.42.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA) traded up 1.02% during midday trading on Thursday, reaching $305.60. The company’s stock had a trading volume of 1,474,118 shares. Tesla has a 52-week low of $178.19 and a 52-week high of $313.73. The firm has a 50-day moving average price of $274.79 and a 200 day moving average price of $232.49. The stock’s market capitalization is $49.41 billion.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, February 22nd. The electric vehicle producer reported ($0.69) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by $0.26. Tesla had a negative return on equity of 29.17% and a negative net margin of 14.74%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the company earned ($0.87) earnings per share. The company’s quarterly revenue was up 88.2% compared to the same quarter last year. Equities research analysts predict that Tesla will post ($1.63) EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This report was originally reported by Markets Daily and is the property of of Markets Daily. If you are viewing this report on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this report can be viewed at https://www.themarketsdaily.com/2017/04/21/tesla-inc-tsla-receives-sell-rating-from-goldman-sachs-group-inc-updated.html.

In other news, VP John Douglas Field sold 500 shares of the business’s stock in a transaction that occurred on Friday, April 7th. The shares were sold at an average price of $301.45, for a total value of $150,725.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Elon Musk bought 95,420 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The stock was purchased at an average cost of $262.00 per share, for a total transaction of $25,000,040.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 16,391 shares of company stock valued at $4,399,594. Company insiders own 27.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its position in shares of Tesla by 13.3% in the fourth quarter. FMR LLC now owns 22,050,401 shares of the electric vehicle producer’s stock valued at $4,711,950,000 after buying an additional 2,582,730 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Tesla by 3.5% in the fourth quarter. Baillie Gifford & Co. now owns 13,289,548 shares of the electric vehicle producer’s stock valued at $2,839,843,000 after buying an additional 454,467 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Tesla by 4.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,807,714 shares of the electric vehicle producer’s stock valued at $572,858,000 after buying an additional 110,714 shares during the last quarter. State Street Corp increased its position in shares of Tesla by 6.9% in the fourth quarter. State Street Corp now owns 2,271,484 shares of the electric vehicle producer’s stock valued at $485,388,000 after buying an additional 146,901 shares during the last quarter. Finally, Bamco Inc. NY increased its position in shares of Tesla by 7.7% in the third quarter. Bamco Inc. NY now owns 1,555,911 shares of the electric vehicle producer’s stock valued at $317,452,000 after buying an additional 111,256 shares during the last quarter. 57.29% of the stock is currently owned by institutional investors.

Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

5 Day Chart for NASDAQ:TSLA

Receive News & Ratings for Tesla Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply