Tesla (NASDAQ:TSLA) Receives Sell Rating from Guggenheim

Guggenheim reissued their sell rating on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a $122.00 price target on the electric vehicle producer’s stock.

A number of other brokerages also recently weighed in on TSLA. Redburn Atlantic started coverage on Tesla in a report on Wednesday, January 24th. They issued a sell rating and a $170.00 price target for the company. Mizuho reiterated a neutral rating and issued a $195.00 price target (down from $270.00) on shares of Tesla in a report on Monday, March 25th. TD Cowen lowered their price target on Tesla from $200.00 to $180.00 and set a market perform rating for the company in a report on Thursday, January 25th. Barclays lowered their price target on Tesla from $225.00 to $180.00 and set an equal weight rating for the company in a report on Wednesday, April 17th. Finally, Daiwa Capital Markets downgraded Tesla from an outperform rating to a neutral rating and lowered their price target for the company from $245.00 to $195.00 in a report on Tuesday, February 6th. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $194.33.

Tesla Stock Performance

Shares of TSLA opened at $144.68 on Tuesday. The business’s 50 day moving average is $176.81 and its two-hundred day moving average is $209.24. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29. The firm has a market cap of $460.78 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 3.89 and a beta of 2.40. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

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. Analysts forecast that Tesla will post 1.97 EPS for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 over the last three months. Insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

Hedge funds have recently bought and sold shares of the business. 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 increased its position 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 purchasing an additional 25,943 shares during the last quarter. J.W. Cole Advisors Inc. increased its position 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 purchasing an additional 6,615 shares during the last quarter. Finally, Nordea Investment Management AB increased its position 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 purchasing an additional 81,729 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other 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. 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.