Tesla (NASDAQ:TSLA) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Tesla (NASDAQ:TSLA) from a sell rating to a hold rating in a research note released on Thursday morning.

Other research analysts also recently issued research reports about the company. TD Cowen upped their price objective on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Canaccord Genuity Group lifted their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America increased their price objective on Tesla from $255.00 to $265.00 and gave the company a “buy” rating in a report on Thursday. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a report on Friday, July 5th. Finally, Citigroup decreased their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $219.00.

Tesla Stock Performance

NASDAQ:TSLA opened at $269.19 on Thursday. Tesla has a twelve month low of $138.80 and a twelve month high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock’s 50-day simple moving average is $230.53 and its 200 day simple moving average is $207.45. The firm has a market capitalization of $858.50 billion, a PE ratio of 68.67, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter last year, the business posted $0.53 EPS. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts anticipate that Tesla will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSLA. Bank & Trust Co bought a new position in Tesla in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. bought a new position in Tesla during the second quarter valued at about $26,000. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Clean Yield Group raised its position in 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. Finally, M&R Capital Management Inc. boosted its stake in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

About Tesla

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.