Tesla Inc. (NASDAQ:TSLA) was upgraded by investment analysts at Vetr from a “strong sell” rating to a “sell” rating in a report issued on Friday. The brokerage presently has a $320.97 target price on the electric vehicle producer’s stock. Vetr‘s target price indicates a potential downside of 9.76% from the stock’s previous close.
Several other brokerages have also issued reports on TSLA. Robert W. Baird reiterated an “outperform” rating and set a $411.00 price objective on shares of Tesla in a report on Monday, September 18th. Jefferies Group LLC began coverage on Tesla in a report on Tuesday, September 19th. They set an “underperform” rating and a $280.00 price objective for the company. They noted that the move was a valuation call. Sanford C. Bernstein set a $265.00 price objective on Tesla and gave the stock a “neutral” rating in a report on Wednesday, September 20th. BidaskClub lowered Tesla from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Finally, Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $200.00 target price (up from $180.00) on shares of Tesla in a research report on Wednesday, August 9th. Ten analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $327.37.
Shares of Tesla (NASDAQ:TSLA) opened at 355.68 on Friday. The firm’s 50-day moving average price is $355.03 and its 200-day moving average price is $336.80. The stock’s market cap is $59.36 billion. Tesla has a 52-week low of $178.19 and a 52-week high of $389.61.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned ($1.06) earnings per share. Tesla’s quarterly revenue was up 119.6% compared to the same quarter last year. On average, equities research analysts forecast that Tesla will post ($6.41) earnings per share for the current fiscal year.
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In other Tesla news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $341.69, for a total transaction of $748,301.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Eric Branderiz sold 99 shares of Tesla stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total transaction of $34,661.88. The disclosure for this sale can be found here. Insiders have sold a total of 51,446 shares of company stock valued at $17,504,929 in the last ninety days. Company insiders own 23.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can grew its holdings in Tesla by 2.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock worth $25,129,000 after acquiring an additional 1,802 shares during the period. Perigon Wealth Management LLC grew its holdings in Tesla by 0.9% during the 1st quarter. Perigon Wealth Management LLC now owns 8,025 shares of the electric vehicle producer’s stock worth $2,233,000 after acquiring an additional 74 shares during the period. Main Street Research LLC acquired a new stake in Tesla during the 2nd quarter worth $602,000. CIBC World Markets Inc. grew its holdings in Tesla by 74.2% during the 2nd quarter. CIBC World Markets Inc. now owns 10,575 shares of the electric vehicle producer’s stock worth $3,824,000 after acquiring an additional 4,504 shares during the period. Finally, Two Sigma Securities LLC grew its holdings in Tesla by 127.1% during the 1st quarter. Two Sigma Securities LLC now owns 2,559 shares of the electric vehicle producer’s stock worth $712,000 after acquiring an additional 1,432 shares during the period. 56.63% of the stock is owned by hedge funds and other institutional investors.
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.
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