Tesla’s (TSLA) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Tesla (NASDAQ:TSLA) in a research report released on Monday,Benzinga reports. They currently have a $500.00 price target on the electric vehicle producer’s stock.

A number of other brokerages also recently weighed in on TSLA. Barclays lowered their price objective on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. JPMorgan Chase & Co. dropped their price target on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Mizuho reduced their price objective on Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a research report on Tuesday, July 8th. Finally, Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $303.31.

Tesla Stock Up 2.2%

Tesla stock opened at $309.26 on Monday. Tesla has a 12 month low of $182.00 and a 12 month high of $488.54. The stock has a fifty day simple moving average of $321.62 and a two-hundred day simple moving average of $309.49. 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 firm has a market cap of $997.50 billion, a price-to-earnings ratio of 178.76, a PEG ratio of 10.63 and a beta of 2.33.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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). The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. Tesla’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 earnings per share. Equities analysts predict that Tesla will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 606,724 shares of company stock worth $215,376,831 over the last three months. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Nuveen LLC purchased a new position in Tesla during the 1st quarter valued at $3,247,619,000. GAMMA Investing LLC grew its position in Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its stake in Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after purchasing an additional 6,435,598 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. 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.