Vetr upgraded shares of Tesla Inc. (NASDAQ:TSLA) from a sell rating to a hold rating in a report released on Tuesday, June 27th. Vetr currently has $357.08 target price on the electric vehicle producer’s stock.
A number of other equities analysts also recently issued reports on the company. BidaskClub downgraded Tesla from a strong-buy rating to a buy rating in a research report on Tuesday, June 20th. Robert W. Baird reissued an outperform rating and set a $368.00 price objective on shares of Tesla in a report on Tuesday, June 20th. Global Equities Research reissued a buy rating and set a $385.00 price objective on shares of Tesla in a report on Tuesday, June 13th. Berenberg Bank raised shares of Tesla from a hold rating to a buy rating and boosted their price objective for the company from $193.00 to $464.00 in a report on Tuesday, June 13th. Finally, Morgan Stanley reissued an equal weight rating and set a $305.00 price objective on shares of Tesla in a report on Monday, June 12th. Eight investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $294.15.
Tesla (NASDAQ TSLA) opened at 319.57 on Tuesday. The stock’s market cap is $52.49 billion. The company’s 50 day moving average price is $346.84 and its 200 day moving average price is $283.13. Tesla has a 12 month low of $178.19 and a 12 month high of $386.99.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by $1.30. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.56 billion. Tesla had a negative return on equity of 17.13% and a negative net margin of 8.46%. Equities analysts forecast that Tesla will post ($5.86) EPS for the current fiscal year.
In related news, Director Kimbal Musk sold 4,690 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $367.68, for a total value of $1,724,419.20. Following the completion of the transaction, the director now owns 166,164 shares in the company, valued at approximately $61,095,179.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $33,582,071.00. The disclosure for this sale can be found here. Insiders have sold a total of 242,290 shares of company stock worth $74,919,505 over the last quarter. 23.10% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in TSLA. Crestwood Advisors Group LLC bought a new position in shares of Tesla during the first quarter worth about $101,000. SRS Capital Advisors Inc. raised its position in shares of Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock worth $109,000 after buying an additional 364 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Tesla during the first quarter worth about $122,000. Acropolis Investment Management LLC bought a new position in shares of Tesla during the second quarter worth about $122,000. Finally, Pathstone Family Office LLC bought a new position in shares of Tesla during the first quarter worth about $134,000. 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.
To view Vetr’s full report, visit Vetr’s official website.
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