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

Tesla, Inc. (NASDAQ:TSLA) has been assigned a consensus rating of “Hold” from the forty-two brokerages that are presently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $303.31.

Several research analysts have commented on TSLA shares. Argus restated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. BNP Paribas set a $137.00 target price on shares of Tesla and gave the stock an “underperform” rating in a research report on Wednesday, April 16th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. The Goldman Sachs Group decreased their target price on shares of Tesla from $315.00 to $285.00 and set a “neutral” rating for the company in a research report on Friday, July 11th. Finally, Cantor Fitzgerald decreased their price objective on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd.

Tesla Price Performance

NASDAQ TSLA opened at $308.27 on Friday. Tesla has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock has a market cap of $994.31 billion, a price-to-earnings ratio of 178.19, a price-to-earnings-growth ratio of 11.21 and a beta of 2.39. The company has a 50-day moving average price of $322.96 and a two-hundred day moving average price of $312.48.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the company posted $0.52 EPS. Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. Analysts forecast that Tesla will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,777,200. The trade was a 25.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 719,119 shares of company stock worth $246,186,549 in the last quarter. 20.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSLA. Rinkey Investments raised its holdings in shares of Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock valued at $347,000 after purchasing an additional 29 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. First Merchants Corp raised its holdings in shares of Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after purchasing an additional 31 shares in the last quarter. Alaska Wealth Advisors raised its holdings in shares of Tesla by 3.4% during the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after purchasing an additional 32 shares in the last quarter. Finally, KWB Wealth raised its holdings in shares of Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after purchasing an additional 33 shares in the last quarter. 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.