Vetr upgraded shares of Tesla Inc. (NASDAQ:TSLA) from a buy rating to a strong-buy rating in a research report sent to investors on Monday, July 17th. They currently have $367.97 price target on the electric vehicle producer’s stock.
Other research analysts also recently issued research reports about the stock. UBS AG reaffirmed a sell rating and issued a $160.00 price target on shares of Tesla in a report on Wednesday, May 3rd. Pacific Crest downgraded shares of Tesla to a hold rating in a research note on Wednesday, April 5th. Argus reissued a hold rating on shares of Tesla in a research note on Thursday, May 11th. Guggenheim reissued a buy rating and issued a $320.00 price objective on shares of Tesla in a research note on Wednesday, April 19th. Finally, ValuEngine raised shares of Tesla from a sell rating to a hold rating in a research note on Friday, June 2nd. Seven equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $301.70.
Tesla (NASDAQ TSLA) traded up 0.18% during midday trading on Monday, hitting $335.07. The stock had a trading volume of 4,880,414 shares. Tesla has a 1-year low of $178.19 and a 1-year high of $386.99. The company’s market capitalization is $55.04 billion. The stock’s 50-day moving average is $348.29 and its 200-day moving average is $299.70.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $1.30. Tesla had a negative net margin of 8.46% and a negative return on equity of 17.13%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.56 billion. Equities research analysts forecast that Tesla will post ($5.99) EPS for the current year.
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In related news, insider Jeffrey B. Straubel sold 106,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $307.44, for a total transaction of $32,588,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 4,690 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the sale, the director now directly owns 166,164 shares of the company’s stock, valued at approximately $61,095,179.52. The disclosure for this sale can be found here. Insiders have sold 242,290 shares of company stock valued at $74,919,505 in the last three months. Corporate insiders own 23.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Crestwood Advisors Group LLC acquired a new stake in shares of Tesla during the first quarter valued at about $101,000. SRS Capital Advisors Inc. raised its position in Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock valued at $109,000 after buying an additional 364 shares during the last quarter. Winfield Associates Inc. raised its position in Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after buying an additional 150 shares during the last quarter. Advisory Services Network LLC purchased a new position in Tesla during the first quarter valued at $122,000. Finally, Acropolis Investment Management LLC purchased a new position in Tesla during the second quarter valued at $122,000. 63.78% of the stock is owned by institutional investors.
About Tesla
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
To view Vetr’s full report, visit Vetr’s official website.
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