Tesla Inc. (TSLA) Rating Reiterated by Robert W. Baird
Tesla Inc. (NASDAQ:TSLA)‘s stock had its “outperform” rating restated by equities researchers at Robert W. Baird in a research report issued to clients and investors on Monday. They currently have a $411.00 price target on the electric vehicle producer’s stock. Robert W. Baird’s price objective points to a potential upside of 6.75% from the company’s previous close.
A number of other brokerages have also recently weighed in on TSLA. Vetr upgraded shares of Tesla from a “strong sell” rating to a “sell” rating and set a $273.28 price target for the company in a research report on Wednesday, May 24th. Royal Bank Of Canada restated a “sector perform” rating and issued a $314.00 price objective on shares of Tesla in a report on Thursday, May 25th. Piper Jaffray Companies restated an “overweight” rating on shares of Tesla in a report on Friday, May 26th. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Tesla in a report on Friday, May 26th. Finally, Goldman Sachs Group, Inc. (The) set a $190.00 price objective on shares of Tesla and gave the company a “sell” rating in a report on Monday, May 29th. Eight investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $315.31.
Shares of Tesla (TSLA) traded up 1.37% during trading on Monday, reaching $385.00. 7,186,137 shares of the company traded hands. The firm has a 50 day moving average of $352.07 and a 200 day moving average of $323.07. Tesla has a 52 week low of $178.19 and a 52 week high of $389.61. The stock’s market capitalization is $64.25 billion.
Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm earned ($1.06) earnings per share. Tesla’s quarterly revenue was up 119.6% compared to the same quarter last year. On average, equities analysts predict that Tesla will post ($6.26) EPS for the current year.
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In other news, Director Kimbal Musk sold 4,690 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the completion of the sale, the director now owns 166,164 shares of the company’s stock, valued at $61,095,179.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen T. Jurvetson sold 44,777 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was 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 disclosure for this sale can be found here. Insiders have sold 53,946 shares of company stock valued at $18,481,047 in the last three months. Corporate insiders own 23.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lord Abbett & CO. LLC lifted its stake in Tesla by 78.9% during the second quarter. Lord Abbett & CO. LLC now owns 152,146 shares of the electric vehicle producer’s stock worth $55,018,000 after purchasing an additional 67,120 shares during the last quarter. WFG Advisors LP lifted its stake in Tesla by 106.8% during the second quarter. WFG Advisors LP now owns 457 shares of the electric vehicle producer’s stock worth $165,000 after purchasing an additional 236 shares during the last quarter. Toronto Dominion Bank lifted its stake in Tesla by 12.3% during the second quarter. Toronto Dominion Bank now owns 1,582 shares of the electric vehicle producer’s stock worth $572,000 after purchasing an additional 173 shares during the last quarter. Rikoon Group LLC lifted its stake in Tesla by 7.8% during the second quarter. Rikoon Group LLC now owns 691 shares of the electric vehicle producer’s stock worth $249,000 after purchasing an additional 50 shares during the last quarter. Finally, Cetera Investment Advisers bought a new position in Tesla during the second quarter worth $1,495,000. Hedge funds and other institutional investors own 56.63% of the company’s stock.
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.
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