Tesla’s (TSLA) Overweight Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Monday, Benzinga reports. They currently have a $205.00 target price on the electric vehicle producer’s stock.

Several other analysts have also commented on TSLA. Sanford C. Bernstein lowered their price target on shares of Tesla from $150.00 to $120.00 and set an underperform rating on the stock in a research report on Tuesday, March 26th. HSBC reduced their price objective on shares of Tesla from $143.00 to $138.00 and set a reduce rating on the stock in a research note on Wednesday, April 3rd. Wells Fargo & Company reduced their price objective on shares of Tesla from $125.00 to $120.00 and set an underweight rating on the stock in a research note on Friday, April 12th. Mizuho reissued a neutral rating and set a $195.00 price objective (down previously from $270.00) on shares of Tesla in a research note on Monday, March 25th. Finally, Edward Jones downgraded shares of Tesla from a buy rating to a hold rating in a research note on Friday, January 26th. Eight research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $186.22.

Tesla Trading Up 12.1 %

Shares of TSLA opened at $162.13 on Monday. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average is $176.28 and its two-hundred day moving average is $208.91. Tesla has a twelve month low of $138.80 and a twelve month high of $299.29. The firm has a market capitalization of $516.35 billion, a P/E ratio of 37.62, a PEG ratio of 3.75 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. On average, research analysts predict that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 in the last ninety days. 20.90% of the stock is owned by insiders.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently made changes to their positions in TSLA. Norges Bank bought a new stake in shares of Tesla during the 4th quarter worth about $7,844,757,000. International Assets Investment Management LLC raised its position in shares of Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Tesla by 34.0% in the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after purchasing an additional 2,293,344 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares during the last quarter. 66.20% of the stock is currently owned by 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.