Tesla (NASDAQ:TSLA) Rating Increased to Hold at Dbs Bank

Dbs Bank upgraded shares of Tesla (NASDAQ:TSLA) to a hold rating in a report released on Wednesday morning,Zacks.com reports.

TSLA has been the topic of a number of other research reports. The Goldman Sachs Group dropped their price target on Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. BNP Paribas Exane began coverage on shares of Tesla in a research report on Thursday, October 16th. They issued an “underperform” rating and a $307.00 target price on the stock. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Wedbush reiterated an “outperform” rating and set a $600.00 price objective on shares of Tesla in a research report on Wednesday. Finally, Glj Research restated a “sell” rating on shares of Tesla in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have given a Hold rating and eleven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $391.08.

Tesla Trading Down 3.5%

Shares of NASDAQ:TSLA opened at $445.91 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The stock has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 297.27, a PEG ratio of 16.84 and a beta of 2.06. Tesla has a 1-year low of $214.25 and a 1-year high of $488.54. The company has a 50 day moving average price of $419.05 and a 200 day moving average price of $353.32.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 EPS. On average, research analysts anticipate that Tesla will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 over the last three months. Corporate insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC increased its position in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares during the period. Bison Wealth LLC raised its position in shares of Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after buying an additional 3,558 shares during the last quarter. Alps Advisors Inc. lifted its stake in shares of Tesla by 13.4% in the first quarter. Alps Advisors Inc. now owns 20,169 shares of the electric vehicle producer’s stock valued at $5,227,000 after buying an additional 2,379 shares during the period. Finally, Phillips Financial Management LLC grew its position in Tesla by 9.9% during the first quarter. Phillips Financial Management LLC now owns 3,746 shares of the electric vehicle producer’s stock worth $971,000 after buying an additional 338 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

About Tesla

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.