Tesla, Inc. (NASDAQ:TSLA) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Tesla, Inc. (NASDAQ:TSLA) have been assigned an average rating of “Hold” from the forty-four brokerages that are presently covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation, twenty-one have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $398.9181.

A number of research analysts have issued reports on TSLA shares. Wall Street Zen upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and upped their target price for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Wedbush reaffirmed an “outperform” rating and set a $600.00 price target on shares of Tesla in a research report on Wednesday, November 5th. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Finally, Truist Financial lifted their target price on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd.

Tesla Trading Up 4.1%

Shares of NASDAQ:TSLA opened at $446.74 on Thursday. The business’s 50-day moving average is $434.02 and its 200 day moving average is $371.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla has a 1 year low of $214.25 and a 1 year high of $488.54. The firm has a market capitalization of $1.49 trillion, a P/E ratio of 297.83, a P/E/G ratio of 14.53 and a beta of 1.87.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, research analysts predict that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 82,606 shares of company stock worth $33,554,102. Company insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Tesla by 0.4% in the third quarter. Vanguard Group Inc. now owns 252,386,304 shares of the electric vehicle producer’s stock worth $112,241,237,000 after acquiring an additional 995,623 shares during the period. State Street Corp increased its stake in shares of Tesla by 0.3% in the 3rd quarter. State Street Corp now owns 113,762,849 shares of the electric vehicle producer’s stock valued at $50,592,614,000 after purchasing an additional 344,162 shares in the last quarter. Geode Capital Management LLC raised its holdings in Tesla by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after purchasing an additional 1,269,304 shares during the period. Capital World Investors boosted its position in Tesla by 5.8% during the third quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock worth $19,583,547,000 after purchasing an additional 2,403,019 shares in the last quarter. Finally, Norges Bank acquired a new stake in Tesla in the second quarter valued at approximately $11,839,824,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.