Tesla (NASDAQ:TSLA) Rating Reiterated by Wedbush

Wedbush reaffirmed their outperform rating on shares of Tesla (NASDAQ:TSLA – Get Rating) in a report issued on Thursday morning, Benzinga reports. The firm currently has a $225.00 price target on the electric vehicle producer’s stock.

A number of other research analysts also recently issued reports on the company. Royal Bank of Canada boosted their price objective on Tesla from $186.00 to $223.00 and gave the company an outperform rating in a research note on Monday, February 6th. JPMorgan Chase & Co. reduced their price objective on Tesla from $125.00 to $120.00 and set an underweight rating for the company in a report on Wednesday, January 25th. Oppenheimer downgraded Tesla from an outperform rating to a market perform rating in a research report on Monday, December 19th. Berenberg Bank upgraded Tesla from a hold rating to a buy rating and lowered their price objective for the stock from $255.00 to $200.00 in a research report on Monday, January 30th. Finally, Piper Sandler reduced their target price on Tesla from $340.00 to $300.00 and set an overweight rating on the stock in a research note on Wednesday, January 18th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $219.51.

Tesla Stock Up 3.6 %

TSLA stock opened at $197.79 on Thursday. Tesla has a twelve month low of $101.81 and a twelve month high of $384.29. The company has a market cap of $625.83 billion, a price-to-earnings ratio of 54.59, a P/E/G ratio of 2.39 and a beta of 2.06. The business has a 50 day moving average price of $162.30 and a two-hundred day moving average price of $204.22. The company has a quick ratio of 1.05, a current ratio of 1.53 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The electric vehicle producer reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.21. Tesla had a return on equity of 31.71% and a net margin of 15.41%. The firm had revenue of $24.32 billion during the quarter, compared to analysts’ expectations of $24.26 billion. During the same period in the previous year, the firm earned $0.68 EPS. The company’s quarterly revenue was up 37.2% compared to the same quarter last year. Analysts anticipate that Tesla will post 3.43 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 1,312 shares of the firm’s stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $178.07, for a total value of $233,627.84. Following the transaction, the senior vice president now directly owns 64,259 shares of the company’s stock, valued at approximately $11,442,600.13. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Monday, February 27th. The shares were sold at an average price of $202.00, for a total transaction of $2,121,000.00. Following the transaction, the senior vice president now directly owns 64,259 shares of the company’s stock, valued at approximately $12,980,318. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 1,312 shares of the company’s stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $178.07, for a total transaction of $233,627.84. Following the sale, the senior vice president now directly owns 64,259 shares in the company, valued at $11,442,600.13. The disclosure for this sale can be found here. Insiders sold a total of 10,119,082 shares of company stock worth $1,635,304,127 over the last quarter. 25.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cranbrook Wealth Management LLC lifted its stake in Tesla by 224.1% in the third quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 65 shares during the period. Coston McIsaac & Partners boosted its position in Tesla by 200.0% in the third quarter. Coston McIsaac & Partners now owns 96 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 64 shares during the last quarter. Lakewood Asset Management LLC purchased a new position in shares of Tesla during the 4th quarter valued at about $25,000. West Oak Capital LLC purchased a new position in shares of Tesla during the 3rd quarter valued at about $27,000. Finally, JDM Financial Group LLC bought a new stake in Tesla in the 4th quarter worth approximately $27,000. 43.00% of the stock is currently owned by institutional investors.

About Tesla

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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.