Tesla, Inc. (NASDAQ:TSLA) Given Average Recommendation of “Hold” by Brokerages

Tesla, Inc. (NASDAQ:TSLA) has been given an average recommendation of “Hold” by the thirty-three research firms that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a sell recommendation, seventeen have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $185.90.

TSLA has been the subject of several analyst reports. The Goldman Sachs Group cut their price target on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft boosted their target price on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Wedbush reaffirmed an “outperform” rating and set a $275.00 price target on shares of Tesla in a report on Monday, April 29th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Finally, Canaccord Genuity Group lowered their target price on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th.

Tesla Stock Performance

Tesla stock opened at $177.81 on Wednesday. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The stock has a fifty day moving average price of $173.12 and a two-hundred day moving average price of $204.32. The firm has a market capitalization of $567.07 billion, a P/E ratio of 45.36, a P/E/G ratio of 4.74 and a beta of 2.41.

Insider Activity at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were 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 owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold 302,803 shares of company stock worth $56,124,840 in the last ninety days. Company insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently modified their holdings of the business. Wyrmwood Management LLC bought a new stake in Tesla in the 4th quarter valued at $25,000. Lam Group Inc. acquired a new stake in shares of Tesla in the 4th quarter valued at about $25,000. Mendota Financial Group LLC lifted its holdings in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla during the fourth quarter worth about $37,000. Finally, Kathleen S. Wright Associates Inc. raised its position in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.