Tesla (NASDAQ:TSLA) Given “Outperform” Rating at Robert W. Baird

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating restated by equities researchers at Robert W. Baird in a report issued on Wednesday, Benzinga reports. They presently have a $280.00 price objective on the electric vehicle producer’s stock. Robert W. Baird’s price objective suggests a potential upside of 86.75% from the company’s previous close.

TSLA has been the topic of several other research reports. KGI Securities restated a “neutral” rating and issued a $213.00 price objective (down previously from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Redburn Atlantic began coverage on Tesla in a research note on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price on the stock. Mizuho reiterated a “neutral” rating and set a $195.00 target price (down previously from $270.00) on shares of Tesla in a research note on Monday, March 25th. Wells Fargo & Company reduced their price target on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Tesla from $200.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Ten equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $194.70.

Tesla Trading Down 3.6 %

NASDAQ TSLA opened at $149.93 on Wednesday. Tesla has a 12 month low of $148.70 and a 12 month high of $299.29. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $477.50 billion, a PE ratio of 34.79, a P/E/G ratio of 4.15 and a beta of 2.39. The stock has a 50-day simple moving average of $179.45 and a 200 day simple moving average of $212.21.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 earnings per share. Research analysts forecast that Tesla will post 1.97 EPS for the current year.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 in the last three months. Insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Tesla in the 4th quarter worth approximately $7,844,757,000. Moneta Group Investment Advisors LLC raised its holdings in shares of Tesla by 180,125.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after purchasing an additional 26,836,879 shares during the period. Bank of New York Mellon Corp raised its holdings in Tesla by 203.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock valued at $5,360,358,000 after acquiring an additional 13,558,882 shares during the period. International Assets Investment Management LLC raised its holdings in Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after acquiring an additional 6,179,032 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Tesla by 26.3% in the fourth quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock worth $3,132,119,000 after purchasing an additional 5,292,464 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.