Tesla (NASDAQ:TSLA) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Tesla (NASDAQ:TSLA) from a sell rating to a hold rating in a research report sent to investors on Thursday.

A number of other equities research analysts have also recently issued reports on the company. Wolfe Research started coverage on Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Barclays cut their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 target price on shares of Tesla in a research report on Wednesday. Wells Fargo & Company boosted their price objective on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Guggenheim raised their target price on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $218.18.

Tesla Trading Up 21.9 %

NASDAQ TSLA opened at $260.48 on Thursday. The firm has a market capitalization of $832.14 billion, a PE ratio of 73.17, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. Tesla has a one year low of $138.80 and a one year high of $271.00. The company has a 50-day simple moving average of $228.54 and a 200-day simple moving average of $206.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. On average, equities analysts forecast that Tesla will post 1.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its stake in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after acquiring an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP raised its stake in shares of Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after purchasing an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after buying an additional 3,795,748 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after buying an additional 1,479,378 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.