Goldman Sachs Group, Inc. (The) reiterated their sell rating on shares of Tesla Inc. (NASDAQ:TSLA) in a research report sent to investors on Wednesday morning. They currently have a $200.00 target price on the electric vehicle producer’s stock, up from their prior target price of $180.00.
A number of other research firms have also weighed in on TSLA. Zacks Investment Research upgraded shares of Tesla from a hold rating to a buy rating and set a $345.00 price objective on the stock in a research report on Tuesday, April 25th. Vetr lowered shares of Tesla from a strong-buy rating to a buy rating and set a $385.74 price objective on the stock. in a research report on Thursday, August 3rd. Deutsche Bank AG reiterated a hold rating and issued a $240.00 price objective on shares of Tesla in a research report on Thursday, May 4th. Royal Bank Of Canada lifted their price objective on shares of Tesla from $314.00 to $345.00 and gave the company a sector perform rating in a research report on Thursday, August 3rd. Finally, Sanford C. Bernstein set a $265.00 price objective on shares of Tesla and gave the company a neutral rating in a research report on Thursday, July 27th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $309.70.
Tesla (NASDAQ TSLA) traded up 0.69% during trading on Wednesday, hitting $357.87. 4,365,783 shares of the company traded hands. The firm’s market cap is $59.72 billion. Tesla has a 52-week low of $178.19 and a 52-week high of $386.99. The company’s 50-day moving average is $341.13 and its 200 day moving average is $307.07.
Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.67. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The company’s revenue for the quarter was up 119.6% compared to the same quarter last year. During the same period last year, the firm posted ($1.06) earnings per share. On average, equities analysts anticipate that Tesla will post ($6.29) earnings per share for the current year.
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In other news, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total transaction of $703,778.40. Following the completion of the transaction, the director now owns 160,274 shares of the company’s stock, valued at approximately $51,505,652.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 23.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. Spears Abacus Advisors LLC bought a new position in Tesla during the second quarter worth approximately $391,000. Dimensional Fund Advisors LP increased its position in Tesla by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 100,312 shares of the electric vehicle producer’s stock worth $36,274,000 after buying an additional 1,522 shares in the last quarter. Ropes Wealth Advisors LLC bought a new position in Tesla during the second quarter worth approximately $366,000. Parametric Portfolio Associates LLC increased its position in Tesla by 3.5% in the second quarter. Parametric Portfolio Associates LLC now owns 100,892 shares of the electric vehicle producer’s stock worth $36,484,000 after buying an additional 3,410 shares in the last quarter. Finally, Zuckerman Investment Group LLC bought a new position in Tesla during the second quarter worth approximately $237,000. 63.71% of the stock is owned by institutional investors.
Tesla Company Profile
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.
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