Tesla (NASDAQ:TSLA) Receives Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Tesla (NASDAQ:TSLA) in a report published on Friday morning, MarketBeat.com reports. The brokerage currently has a $500.00 price objective on the electric vehicle producer’s stock.

Other research analysts also recently issued research reports about the company. Raymond James Financial downgraded Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Mizuho raised their price objective on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Benchmark restated a “buy” rating and set a $350.00 price objective on shares of Tesla in a research report on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 price target on Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. Finally, BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an “underperform” rating in a research report on Wednesday, April 16th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $293.67.

Tesla Trading Up 0.0%

Shares of TSLA opened at $322.16 on Friday. Tesla has a twelve month low of $180.69 and a twelve month high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.04 trillion, a P/E ratio of 177.01, a PEG ratio of 12.04 and a beta of 2.47. The firm’s 50-day moving average is $306.22 and its two-hundred day moving average is $332.14.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the prior year, the company earned $0.45 EPS. On average, research analysts predict that Tesla will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president now owns 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Gebbia bought 4,000 shares of the stock in a transaction dated Thursday, April 24th. The shares were acquired at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the purchase, the director now directly owns 4,111 shares of the company’s stock, valued at approximately $1,053,690.41. This represents a 3,603.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 in the last 90 days. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC boosted its stake in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Horrell Capital Management Inc. raised its stake in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. lifted its position in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC acquired a new position in Tesla in the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla in the fourth quarter valued at about $38,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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.