Tesla Inc. (NASDAQ:TSLA)‘s stock had its “hold” rating restated by equities research analysts at Morgan Stanley in a research note issued on Thursday. They currently have a $317.00 price objective on the electric vehicle producer’s stock. Morgan Stanley’s target price indicates a potential downside of 7.99% from the stock’s previous close.

Several other research analysts have also commented on TSLA. Argus restated a “hold” rating on shares of Tesla in a report on Thursday, May 11th. Goldman Sachs Group, Inc. (The) set a $190.00 price objective on shares of Tesla and gave the stock a “sell” rating in a report on Monday, May 15th. Guggenheim upped their price objective on shares of Tesla from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Monday, May 15th. Pacific Crest restated a “market perform” rating on shares of Tesla in a report on Monday, May 15th. Finally, Robert W. Baird restated an “outperform” rating and issued a $368.00 price objective on shares of Tesla in a report on Monday, May 15th. Eight research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $313.70.

Shares of Tesla (NASDAQ:TSLA) traded up 1.40% during trading on Thursday, reaching $349.34. 3,863,002 shares of the company were exchanged. The stock has a 50-day moving average price of $346.35 and a 200-day moving average price of $318.80. Tesla has a one year low of $178.19 and a one year high of $386.99. The stock’s market capitalization is $58.30 billion.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the business earned ($1.06) EPS. The company’s revenue for the quarter was up 119.6% on a year-over-year basis. Analysts forecast that Tesla will post ($6.26) EPS for the current year.

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In related news, Director Stephen T. Jurvetson sold 44,777 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the sale, the director now directly owns 36,111 shares of the company’s stock, valued at approximately $12,290,739.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total transaction of $703,778.40. Following the sale, the director now directly owns 160,274 shares in the company, valued at approximately $51,505,652.64. The disclosure for this sale can be found here. Insiders have sold a total of 53,847 shares of company stock worth $18,446,385 over the last three months. 23.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in TSLA. Korea Investment CORP boosted its holdings in shares of Tesla by 225.0% during the 1st quarter. Korea Investment CORP now owns 494 shares of the electric vehicle producer’s stock valued at $137,000 after acquiring an additional 342 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Tesla by 996.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 17,702 shares of the electric vehicle producer’s stock valued at $4,926,000 after acquiring an additional 16,088 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Tesla during the 1st quarter valued at about $122,000. First Trust Advisors LP boosted its holdings in shares of Tesla by 27.1% during the 1st quarter. First Trust Advisors LP now owns 72,665 shares of the electric vehicle producer’s stock valued at $20,223,000 after acquiring an additional 15,476 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Tesla by 10.8% during the 1st quarter. US Bancorp DE now owns 11,522 shares of the electric vehicle producer’s stock valued at $3,206,000 after acquiring an additional 1,119 shares during the last quarter. 56.67% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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