Oppenheimer Holdings, Inc. Reiterates Hold Rating for Tesla Inc. (TSLA)
Tesla Inc. (NASDAQ:TSLA)‘s stock had its “hold” rating reissued by research analysts at Oppenheimer Holdings, Inc. in a report issued on Monday.
Several other analysts also recently weighed in on TSLA. Vetr downgraded shares of Tesla from a “buy” rating to a “hold” rating and set a $371.10 target price on the stock. in a report on Wednesday, August 9th. Robert W. Baird reaffirmed an “outperform” rating and issued a $411.00 target price (up previously from $368.00) on shares of Tesla in a report on Monday, August 14th. Instinet began coverage on shares of Tesla in a research note on Wednesday, October 4th. They issued a “buy” rating and a $500.00 price objective for the company. Guggenheim reiterated a “buy” rating and issued a $430.00 price objective on shares of Tesla in a research note on Thursday, August 10th. Finally, Royal Bank Of Canada raised their price objective on shares of Tesla from $314.00 to $345.00 and gave the company a “sector perform” rating in a research note on Thursday, August 3rd. Ten research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $327.37.
Shares of Tesla (TSLA) traded down 1.40% on Monday, hitting $350.60. 5,367,675 shares of the company’s stock were exchanged. Tesla has a 12-month low of $178.19 and a 12-month high of $389.61. The stock’s market cap is $58.51 billion. The company’s 50-day moving average price is $355.31 and its 200 day moving average price is $338.28.
Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The business’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.06) earnings per share. On average, equities analysts predict that Tesla will post ($6.41) earnings per share for the current fiscal year.
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In related news, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total value of $703,778.40. Following the sale, the director now directly owns 160,274 shares of the company’s stock, valued at $51,505,652.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen T. Jurvetson sold 44,777 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 36,111 shares in the company, valued at $12,290,739.96. The disclosure for this sale can be found here. Insiders sold 51,446 shares of company stock worth $17,504,929 over the last ninety days. 23.10% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Pittenger & Anderson Inc. raised its holdings in Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after acquiring an additional 50 shares in the last quarter. Winfield Associates Inc. raised its holdings in Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after acquiring an additional 150 shares in the last quarter. Acropolis Investment Management LLC acquired a new stake in Tesla in the second quarter valued at $122,000. North Star Investment Management Corp. raised its holdings in Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after acquiring an additional 9 shares in the last quarter. Finally, Carroll Financial Associates Inc. raised its holdings in Tesla by 8.7% in the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock valued at $126,000 after acquiring an additional 28 shares in the last quarter. 56.62% 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.
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