Tesla (NASDAQ:TSLA) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of Tesla (NASDAQ:TSLA) in a report issued on Friday morning, MarketBeat Ratings reports. Wedbush currently has a $500.00 target price on the electric vehicle producer’s stock.

TSLA has been the subject of several other reports. Baird R W lowered Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Cantor Fitzgerald reduced their price objective on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Argus reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Finally, Robert W. Baird restated a “neutral” rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $293.67.

Tesla Stock Up 0.0%

Shares of NASDAQ:TSLA opened at $322.16 on Friday. Tesla has a 52-week low of $180.69 and a 52-week high of $488.54. The stock has a market cap of $1.04 trillion, a P/E ratio of 177.01, a PEG ratio of 12.04 and a beta of 2.47. The business has a fifty day moving average of $306.22 and a two-hundred day moving average of $332.14. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the prior year, the company posted $0.45 EPS. On average, research analysts expect that Tesla will post 2.56 earnings per share for the current year.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the transaction, the chief financial officer now directly owns 1,950 shares in the company, valued at approximately $682,500. This represents a 33.90% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 833,509 shares of company stock valued at $278,648,925. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Large investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Tesla in the fourth quarter valued at about $56,600,000. Means Investment CO. Inc. boosted its holdings in Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after purchasing an additional 6,323 shares in the last quarter. Focus Financial Network Inc. increased its position in Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after purchasing an additional 670 shares during the period. Strategic Family Wealth Counselors L.L.C. raised its stake in shares of Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after buying an additional 1,629 shares in the last quarter. Finally, Harvard Management Co. Inc. acquired a new stake in shares of Tesla in the 4th quarter valued at approximately $8,158,000. Hedge funds and other institutional investors 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.