Tesla, Inc. (NASDAQ:TSLA) Given Average Rating of “Hold” by Brokerages

Tesla, Inc. (NASDAQ:TSLA) has received an average recommendation of “Hold” from the forty-six research firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and twenty-one have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $408.0651.

A number of research firms have recently issued reports on TSLA. China Renaissance reduced their target price on Tesla from $382.00 to $372.00 and set a “hold” rating on the stock in a report on Monday, April 27th. Canaccord Genuity Group lifted their price objective on Tesla from $420.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Sanford C. Bernstein upgraded Tesla from an “underperform” rating to an “outperform” rating in a report on Friday, June 5th. Phillip Securities cut their price target on Tesla from $220.00 to $215.00 and set a “sell” rating for the company in a report on Wednesday, May 13th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a report on Friday, April 24th.

Tesla Trading Down 0.9%

Shares of Tesla stock opened at $391.06 on Friday. Tesla has a 12-month low of $297.82 and a 12-month high of $498.83. The stock has a market capitalization of $1.47 trillion, a P/E ratio of 358.77, a price-to-earnings-growth ratio of 14.39 and a beta of 1.80. The company has a 50-day simple moving average of $410.37 and a 200 day simple moving average of $406.18. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 earnings per share. Research analysts expect that Tesla will post 1.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the transaction, the director owned 48,399 shares in the company, valued at $18,300,145.89. The trade was a 35.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the transaction, the chief financial officer directly owned 22,039 shares in the company, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 32,015 shares of company stock valued at $12,383,640. 19.90% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Networth Advisors LLC bought a new position in shares of Tesla in the 4th quarter valued at about $26,000. Chapman Financial Group LLC bought a new stake in shares of Tesla during the second quarter worth approximately $26,000. Davidson Capital Management Inc. lifted its holdings in Tesla by 79.4% in the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 27 shares during the period. Friedenthal Financial lifted its holdings in Tesla by 66.7% in the first quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 30 shares during the period. Finally, Prism Advisors Inc. bought a new position in Tesla in the fourth quarter valued at approximately $30,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s stronger-than-expected vehicle deliveries last quarter support the case that demand remains resilient, and the company may also benefit from tighter global emissions rules that could accelerate EV adoption. Tesla’s Delivery Surprise Was Big—Earnings Need to Be Bigger
• Positive Sentiment: Investor interest is high ahead of the July 22 earnings call, with questions focused on robotaxi progress, Optimus, Cybercab, and Elon Musk’s comments, which could provide a catalyst if Tesla offers credible updates. Tesla Q2 Earnings: Elon Musk’s Pay Package, Cybercab and Optimus Lead Top Investor Questions
• Positive Sentiment: Some analysts remain constructive, noting Tesla is positioned to benefit from EV adoption trends and long-term software/autonomy opportunities. Tesla Rides Tightening Global Emission Standards for EV Thrust

Tesla Company Profile

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.