Tesla Inc. (NASDAQ:TSLA) Receives “Hold” Rating from Royal Bank Of Canada

Royal Bank Of Canada reiterated their hold rating on shares of Tesla Inc. (NASDAQ:TSLA) in a research note published on Wednesday. They currently have a $314.00 price target on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other research reports. Berenberg Bank upgraded shares of Tesla from a hold rating to a buy rating and increased their target price for the company from $193.00 to $464.00 in a research report on Tuesday, June 13th. Robert W. Baird restated an outperform rating and set a $368.00 price objective on shares of Tesla in a research report on Tuesday, June 20th. Vetr lowered shares of Tesla from a strong-buy rating to a buy rating and set a $358.85 price objective for the company. in a research report on Tuesday, July 11th. Guggenheim raised their target price on shares of Tesla from $320.00 to $380.00 and gave the stock a buy rating in a report on Friday, May 5th. Finally, Pacific Crest reiterated an equal weight rating on shares of Tesla in a report on Tuesday, June 6th. Eight equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Hold and an average target price of $294.15.

Tesla (NASDAQ:TSLA) opened at 319.57 on Wednesday. The firm has a 50-day moving average of $346.84 and a 200-day moving average of $283.13. Tesla has a 1-year low of $178.19 and a 1-year high of $386.99. The firm’s market capitalization is $52.49 billion.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $1.30. Tesla had a negative return on equity of 17.13% and a negative net margin of 8.46%. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.56 billion. On average, analysts expect that Tesla will post ($5.86) earnings per share for the current year.

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In other Tesla news, Director Robyn M. Denholm sold 20,000 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $311.76, for a total value of $6,235,200.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $6,235,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey B. Straubel sold 109,100 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $307.81, for a total value of $33,582,071.00. The disclosure for this sale can be found here. Insiders sold 242,290 shares of company stock worth $74,919,505 over the last ninety days. 23.10% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of TSLA. V Wealth Management LLC purchased a new position in Tesla during the second quarter valued at approximately $150,000. B & T Capital Management DBA Alpha Capital Management purchased a new position in Tesla during the second quarter valued at approximately $344,000. CENTRAL TRUST Co increased its position in Tesla by 13.1% in the second quarter. CENTRAL TRUST Co now owns 1,810 shares of the electric vehicle producer’s stock valued at $654,000 after buying an additional 209 shares in the last quarter. Eqis Capital Management Inc. increased its position in Tesla by 2.9% in the second quarter. Eqis Capital Management Inc. now owns 2,589 shares of the electric vehicle producer’s stock valued at $936,000 after buying an additional 74 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position in Tesla by 514.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 21,225 shares of the electric vehicle producer’s stock valued at $7,675,000 after buying an additional 17,769 shares in the last quarter. Hedge funds and other institutional investors own 63.75% of the company’s stock.

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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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