Tesla’s (TSLA) Underperform Rating Reiterated at Sanford C. Bernstein

Tesla (NASDAQ:TSLAGet Free Report)‘s stock had its “underperform” rating restated by equities researchers at Sanford C. Bernstein in a research note issued to investors on Monday, Benzinga reports. They currently have a $120.00 price target on the electric vehicle producer’s stock. Sanford C. Bernstein’s price target suggests a potential downside of 32.39% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group reduced their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Truist Financial reduced their target price on shares of Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price target on shares of Tesla in a report on Monday, April 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Finally, Mizuho cut their price target on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $185.90.

View Our Latest Stock Analysis on TSLA

Tesla Price Performance

Tesla stock opened at $177.48 on Monday. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29. The firm has a 50 day moving average price of $172.18 and a 200 day moving average price of $197.20. The company has a market cap of $566.02 billion, a price-to-earnings ratio of 45.28, a PEG ratio of 4.40 and a beta of 2.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Sell-side analysts predict that Tesla will post 1.87 earnings per share for the current year.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,631,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,631,600. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 198,560 shares of company stock valued at $35,725,248. 20.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Wyrmwood Management LLC acquired a new position in Tesla during the fourth quarter worth $25,000. Lam Group Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at $25,000. Mendota Financial Group LLC increased its stake 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 buying an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla in the fourth quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. increased its stake in shares of Tesla by 111.1% in the fourth 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 in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Company Profile

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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.

Further Reading

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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