The Goldman Sachs Group Reiterates “Neutral” Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLAGet Free Report)‘s stock had its “neutral” rating reissued by equities researchers at The Goldman Sachs Group in a report issued on Friday, Benzinga reports. They currently have a $175.00 target price on the electric vehicle producer’s stock. The Goldman Sachs Group’s price target indicates a potential downside of 1.69% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada decreased their target price on Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Citigroup reaffirmed a “neutral” rating on shares of Tesla in a research report on Wednesday. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research report on Monday, June 10th. Piper Sandler restated an “overweight” rating and issued a $205.00 price target on shares of Tesla in a report on Monday, April 22nd. Finally, Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $185.90.

View Our Latest Analysis on Tesla

Tesla Stock Down 2.4 %

Shares of NASDAQ:TSLA opened at $178.01 on Friday. The firm has a market cap of $567.71 billion, a P/E ratio of 45.41, a P/E/G ratio of 4.53 and a beta of 2.32. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29. The business has a fifty day simple moving average of $172.90 and a 200 day simple moving average of $195.33. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLAGet Free Report) last announced its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Analysts predict that Tesla will post 1.87 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on 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 completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were 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 disclosure for this sale can be found here. In the last three months, insiders have sold 104,855 shares of company stock valued at $19,285,643. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Several large investors have recently modified their holdings of TSLA. Vanguard Group Inc. grew its position in shares of 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 buying an additional 3,795,748 shares during the last quarter. Norges Bank purchased a new stake in Tesla in the fourth quarter worth $7,844,757,000. Morgan Stanley boosted its holdings in Tesla by 7.8% in the third 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 in the last quarter. FMR LLC increased its position in Tesla by 0.9% during the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after purchasing an additional 269,182 shares during the period. Finally, Northern Trust Corp raised its holdings in Tesla by 3.4% in the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after purchasing an additional 909,170 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

About Tesla

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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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