Oppenheimer Reaffirms Market Perform Rating for Tesla (NASDAQ:TSLA)

Oppenheimer reaffirmed their market perform rating on shares of Tesla (NASDAQ:TSLA) in a report published on Monday morning, Benzinga reports.

Other research analysts have also issued reports about the company. TD Cowen cut their target price on Tesla from $200.00 to $180.00 and set a market perform rating for the company in a research note on Thursday, January 25th. Wells Fargo & Company lowered Tesla from an equal weight rating to an underweight rating and cut their target price for the company from $200.00 to $125.00 in a research note on Wednesday, March 13th. Morgan Stanley cut their target price on Tesla from $345.00 to $320.00 and set an overweight rating for the company in a research note on Wednesday, March 6th. Truist Financial dropped their price objective on Tesla from $227.00 to $193.00 and set a hold rating for the company in a research note on Thursday, January 25th. Finally, Citigroup dropped their price objective on Tesla from $255.00 to $224.00 and set a neutral rating for the company in a research note on Thursday, January 25th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $204.63.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $175.79 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $187.78 and its two-hundred day moving average is $222.06. The company has a market cap of $559.85 billion, a P/E ratio of 40.79, a P/E/G ratio of 4.01 and a beta of 2.41. Tesla has a 12 month low of $152.37 and a 12 month high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 earnings per share. On average, equities analysts expect that Tesla will post 2.44 EPS for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. Insiders have sold a total of 198,598 shares of company stock worth $36,952,434 over the last 90 days. Insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. acquired a new stake in shares of Tesla during the third quarter worth about $25,000. Wyrmwood Management LLC acquired a new stake in shares of Tesla during the fourth quarter worth about $25,000. Lam Group Inc. acquired a new stake in shares of Tesla during the fourth quarter worth about $25,000. Alpha Paradigm Partners LLC acquired a new stake in shares of Tesla during the third quarter worth about $27,000. Finally, Halpern Financial Inc. raised its position in shares of Tesla by 1,111.1% during the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 100 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

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.