Tesla’s (TSLA) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Tesla (NASDAQ:TSLA) in a research report released on Monday,Benzinga reports. Wedbush currently has a $400.00 price target on the electric vehicle producer’s stock.

TSLA has been the topic of several other research reports. Citigroup dropped their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Morgan Stanley restated an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. The Goldman Sachs Group lifted their target price on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Robert W. Baird restated an “outperform” rating and set a $280.00 price target on shares of Tesla in a report on Tuesday, August 20th. Finally, New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a research report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $230.18.

Tesla Price Performance

Tesla stock opened at $340.17 on Monday. The company has a market capitalization of $1.09 trillion, a PE ratio of 93.20, a P/E/G ratio of 11.24 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $261.63 and a two-hundred day moving average price of $224.93. Tesla has a 12 month low of $138.80 and a 12 month high of $358.64.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. Analysts expect that Tesla will post 1.99 EPS for the current year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock worth $92,956,692 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. Transcendent Capital Group LLC bought a new stake in shares of Tesla in the third quarter valued at approximately $29,000. Bank & Trust Co purchased a new stake in shares of Tesla during the second quarter worth $25,000. Clean Yield Group boosted its holdings in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC lifted its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Finally, Valley Wealth Managers Inc. bought a new position in Tesla in the 2nd quarter worth about $26,000. 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.