Tesla Inc. (NASDAQ:TSLA) had its target price boosted by analysts at Royal Bank Of Canada from $314.00 to $345.00 in a report released on Thursday, August 3rd, Marketbeat.com reports. The firm currently has a “sector perform” rating on the electric vehicle producer’s stock. Royal Bank Of Canada’s price objective points to a potential downside of 1.97% from the company’s current price.
Several other equities analysts have also issued reports on TSLA. Pacific Crest lowered shares of Tesla to a “hold” rating in a report on Wednesday, April 5th. Barclays PLC reaffirmed an “underweight” rating and issued a $165.00 price target on shares of Tesla in a report on Thursday, April 6th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating on shares of Tesla in a research note on Thursday, April 6th. Cowen and Company set a $155.00 price objective on shares of Tesla and gave the stock a “sell” rating in a research note on Thursday, April 6th. Finally, Piper Jaffray Companies upgraded shares of Tesla from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $223.00 to $368.00 in a research note on Monday, April 10th. Eight investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $310.84.
Tesla (NASDAQ TSLA) traded down 3.03% during trading on Thursday, reaching $351.92. The company had a trading volume of 4,976,248 shares. The stock’s market capitalization is $58.73 billion. Tesla has a 12-month low of $178.19 and a 12-month high of $386.99. The stock has a 50 day moving average of $340.15 and a 200-day moving average of $309.81.
Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company earned ($1.06) earnings per share. The business’s revenue for the quarter was up 119.6% on a year-over-year basis. On average, analysts forecast that Tesla will post ($6.34) earnings per share for the current fiscal year.
In related news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total value of $703,778.40. Following the transaction, the director now directly owns 160,274 shares of the company’s stock, valued at approximately $51,505,652.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 23.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pittenger & Anderson Inc. increased its position in Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after buying an additional 50 shares during the period. Winfield Associates Inc. increased 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 worth $118,000 after buying an additional 150 shares during the period. Acropolis Investment Management LLC bought a new position in Tesla during the second quarter worth approximately $122,000. North Star Investment Management Corp. increased its position in Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after buying an additional 9 shares during the period. Finally, Carroll Financial Associates Inc. increased its position in shares of Tesla by 8.7% in the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock valued at $126,000 after buying an additional 28 shares during the last quarter. 62.92% of the stock is currently owned by hedge funds and other 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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