Bank of America Corporation reiterated their underperform rating on shares of Tesla Inc. (NASDAQ:TSLA) in a report published on Thursday, August 3rd. The brokerage currently has a $155.00 target price on the electric vehicle producer’s stock, down from their prior target price of $165.00.
Other research analysts also recently issued research reports about the stock. UBS AG reiterated a sell rating and issued a $160.00 price objective on shares of Tesla in a research report on Wednesday, May 3rd. Pacific Crest downgraded shares of Tesla to a hold rating in a research report on Wednesday, April 5th. Argus restated a hold rating on shares of Tesla in a research report on Thursday, May 11th. Vetr upgraded shares of Tesla from a strong sell rating to a sell rating and set a $278.94 price target for the company in a research report on Wednesday, May 17th. Finally, Guggenheim reiterated a buy rating and issued a $320.00 price objective on shares of Tesla in a report on Wednesday, April 19th. Eight equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company. Tesla currently has a consensus rating of Hold and an average price target of $310.84.
Tesla (NASDAQ TSLA) opened at 351.92 on Thursday. Tesla has a 12-month low of $178.19 and a 12-month high of $386.99. The stock’s 50 day moving average price is $339.60 and its 200 day moving average price is $310.11. The company’s market capitalization is $58.73 billion.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, beating the 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 company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the company earned ($1.06) earnings per share. The firm’s revenue was up 119.6% on a year-over-year basis. On average, equities analysts anticipate that Tesla will post ($6.23) EPS for the current fiscal year.
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In other news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 160,274 shares of the company’s stock, valued at $51,505,652.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.10% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Tesla by 26.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 96,896 shares of the electric vehicle producer’s stock valued at $20,707,000 after buying an additional 20,082 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Tesla by 9.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 290,524 shares of the electric vehicle producer’s stock valued at $62,082,000 after buying an additional 25,012 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Tesla by 9.8% in the fourth quarter. Teachers Advisors LLC now owns 153,551 shares of the electric vehicle producer’s stock valued at $32,812,000 after buying an additional 13,705 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Tesla by 22.1% in the fourth quarter. Macquarie Group Ltd. now owns 48,626 shares of the electric vehicle producer’s stock valued at $10,391,000 after buying an additional 8,800 shares during the last quarter. Finally, Rathbone Brothers plc increased its position in shares of Tesla by 4.6% in the first quarter. Rathbone Brothers plc now owns 12,192 shares of the electric vehicle producer’s stock valued at $3,393,000 after buying an additional 532 shares during the period. 62.92% of the stock is currently owned by hedge funds and other 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.
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