Piper Sandler Reaffirms Overweight Rating for Tesla (NASDAQ:TSLA)

Piper Sandler restated their overweight rating on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $205.00 price objective on the electric vehicle producer’s stock.

A number of other brokerages have also issued reports on TSLA. Robert W. Baird reaffirmed an outperform rating and issued a $280.00 target price on shares of Tesla in a research report on Wednesday, April 17th. Citigroup dropped their price target on Tesla from $196.00 to $180.00 and set a neutral rating on the stock in a research report on Friday, April 12th. China Renaissance assumed coverage on Tesla in a research report on Monday, February 26th. They set a hold rating on the stock. Edward Jones lowered Tesla from a buy rating to a hold rating in a research report on Friday, January 26th. Finally, Daiwa Capital Markets lowered Tesla from an outperform rating to a neutral rating and dropped their price target for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $194.70.

Tesla Stock Down 3.4 %

Shares of NASDAQ:TSLA opened at $142.05 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29. The stock has a market capitalization of $452.40 billion, a P/E ratio of 32.96, a PEG ratio of 3.89 and a beta of 2.39. The stock has a 50-day simple moving average of $177.59 and a 200-day simple moving average of $210.05.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same period in the previous year, the company earned $1.07 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities analysts forecast that Tesla will post 1.97 earnings per share for the current year.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mount Vernon Associates Inc. MD lifted its stake in Tesla by 5.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after acquiring an additional 350 shares in the last quarter. Oak Ridge Investments LLC lifted its stake in Tesla by 4.6% in the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after acquiring an additional 1,405 shares in the last quarter. Corient Private Wealth LLC lifted its stake in Tesla by 3.7% in the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after acquiring an additional 25,943 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in Tesla by 16.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after acquiring an additional 6,615 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Tesla by 11.8% in the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after acquiring an additional 81,729 shares in the last quarter. Institutional investors and hedge funds 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.