Tesla (NASDAQ:TSLA) Now Covered by Analysts at UBS Group

UBS Group initiated coverage on shares of Tesla (NASDAQ:TSLA) in a report released on Tuesday morning, FlyOnTheWall reports. The firm issued a neutral rating on the electric vehicle producer’s stock.

Several other brokerages have also recently commented on TSLA. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $260.00 to $270.00 and gave the stock a buy rating in a report on Monday, July 3rd. TD Cowen lifted their target price on shares of Tesla from $150.00 to $200.00 and gave the stock a market perform rating in a research report on Thursday, July 20th. Wells Fargo & Company lifted their price objective on shares of Tesla from $170.00 to $265.00 and gave the company an equal weight rating in a research note on Monday, July 17th. Guggenheim reissued a sell rating and issued a $125.00 price target on shares of Tesla in a report on Wednesday, August 30th. Finally, Truist Financial upped their price target on Tesla from $240.00 to $254.00 and gave the company a hold rating in a research report on Thursday, July 20th. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tesla has a consensus rating of Hold and a consensus target price of $238.77.

Tesla Trading Down 2.2 %

Tesla stock opened at $267.48 on Tuesday. The firm’s 50 day moving average price is $256.07 and its two-hundred day moving average price is $219.36. Tesla has a 1 year low of $101.81 and a 1 year high of $313.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.07 and a current ratio of 1.59. The firm has a market cap of $848.98 billion, a price-to-earnings ratio of 75.77, a price-to-earnings-growth ratio of 3.92 and a beta of 2.09.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, topping the consensus estimate of $0.69 by $0.22. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The firm had revenue of $24.93 billion for the quarter, compared to the consensus estimate of $24.22 billion. During the same quarter last year, the firm posted $0.65 EPS. The business’s quarterly revenue was up 47.2% on a year-over-year basis. On average, research analysts predict that Tesla will post 2.94 EPS for the current fiscal year.

Insider Activity

In other news, CFO Zachary Kirkhorn sold 3,750 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the completion of the sale, the chief financial officer now directly owns 197,540 shares of the company’s stock, valued at approximately $55,054,398. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 2,500 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $276.35, for a total transaction of $690,875.00. Following the completion of the sale, the senior vice president now owns 62,938 shares of the company’s stock, valued at approximately $17,392,916.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the completion of the transaction, the chief financial officer now owns 197,540 shares of the company’s stock, valued at approximately $55,054,398. The disclosure for this sale can be found here. In the last three months, insiders sold 55,815 shares of company stock worth $14,384,135. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of large investors have recently added to or reduced their stakes in TSLA. Farther Finance Advisors LLC boosted its stake in Tesla by 15.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 10,796 shares of the electric vehicle producer’s stock worth $2,826,000 after purchasing an additional 1,482 shares during the period. Prosperity Wealth Management Inc. boosted its stake in Tesla by 579.0% in the 2nd quarter. Prosperity Wealth Management Inc. now owns 2,329 shares of the electric vehicle producer’s stock worth $610,000 after purchasing an additional 1,986 shares during the period. Dechtman Wealth Management LLC acquired a new position in Tesla in the 2nd quarter worth approximately $244,000. Tucker Asset Management LLC boosted its stake in Tesla by 94.4% in the 2nd quarter. Tucker Asset Management LLC now owns 1,565 shares of the electric vehicle producer’s stock worth $410,000 after purchasing an additional 760 shares during the period. Finally, Sterling Financial Group Inc. acquired a new position in Tesla in the 2nd quarter worth approximately $400,000. 41.87% of the stock is currently owned by institutional investors.

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. It 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, retail merchandise, and vehicle insurance services.