Tesla (NASDAQ:TSLA) Upgraded at DZ Bank

DZ Bank upgraded shares of Tesla (NASDAQ:TSLAFree Report) from a hold rating to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.

Several other equities research analysts have also weighed in on the company. China Renaissance reduced their price objective on Tesla from $382.00 to $372.00 and set a “hold” rating for the company in a research note on Monday, April 27th. Citigroup started coverage on Tesla in a research report on Thursday, July 9th. They set a “market perform” rating on the stock. Roth Capital reaffirmed a “buy” rating and set a $505.00 price objective on shares of Tesla in a research note on Thursday. President Capital raised their target price on Tesla from $424.00 to $428.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, TD Cowen restated a “buy” rating and set a $460.00 price target (down from $490.00) on shares of Tesla in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twenty have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $404.95.

Check Out Our Latest Stock Report on Tesla

Tesla Stock Down 2.1%

NASDAQ TSLA opened at $313.03 on Thursday. Tesla has a 12 month low of $297.82 and a 12 month high of $498.83. The company has a market capitalization of $1.18 trillion, a P/E ratio of 289.85, a PEG ratio of 10.51 and a beta of 1.80. The company’s 50 day simple moving average is $400.74 and its 200 day simple moving average is $402.53. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.94 and a quick ratio of 1.62.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.17). The business had revenue of $28.24 billion for the quarter, compared to the consensus estimate of $26.42 billion. Tesla had a return on equity of 3.82% and a net margin of 3.67%.The company’s quarterly revenue was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 earnings per share. Equities research analysts expect that Tesla will post 1.33 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the transaction, the director directly owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer owned 22,039 shares of the company’s stock, valued at $8,864,085.80. The trade was a 10.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 32,015 shares of company stock valued at $12,383,640 in the last ninety days. Insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Networth Advisors LLC acquired a new position in shares of Tesla during the 4th quarter worth about $26,000. Chapman Financial Group LLC acquired a new stake in Tesla in the 2nd quarter valued at approximately $26,000. Davidson Capital Management Inc. increased its position in Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 27 shares during the period. Friedenthal Financial increased its position in Tesla by 66.7% in the 1st quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 30 shares during the period. Finally, Prism Advisors Inc. acquired a new position in shares of Tesla during the fourth quarter worth approximately $30,000. Institutional investors own 66.20% of the company’s stock.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

About Tesla

(Get Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

Further Reading

Analyst Recommendations for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.