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Tesla (NASDAQ:TSLA – Get Free Report) had its price objective boosted by equities research analysts at Royal Bank Of Canada from $319.00 to $325.00 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm currently has an “outperform” rating on the electric vehicle producer’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 1.87% from the company’s previous close.
TSLA has been the topic of several other reports. Barclays decreased their price objective on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. BNP Paribas set a $137.00 target price on Tesla and gave the company an “underperform” rating in a research report on Wednesday, April 16th. Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group dropped their price objective on Tesla from $315.00 to $285.00 and set a “neutral” rating for the company in a research note on Friday, July 11th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a report on Friday, June 6th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $303.31.
Get Our Latest Stock Analysis on TSLA
Tesla Price Performance
NASDAQ:TSLA opened at $319.04 on Tuesday. Tesla has a 52 week low of $182.00 and a 52 week high of $488.54. The stock’s fifty day moving average is $323.61 and its two-hundred day moving average is $313.14. The company has a market capitalization of $1.03 trillion, a P/E ratio of 184.42, a P/E/G ratio of 11.28 and a beta of 2.39. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. Equities analysts expect that Tesla will post 2.56 EPS for the current year.
Insider Activity at Tesla
In related news, Director Kimbal Musk sold 91,588 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director owned 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 719,119 shares of company stock valued at $246,186,549 over the last quarter. 20.70% of the stock is owned by insiders.
Institutional Investors Weigh In On Tesla
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC increased its holdings in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank grew its position in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC raised its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the 1st quarter worth $27,000. Finally, True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.
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.
Further Reading
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