Tesla’s (TSLA) Underweight Rating Reaffirmed at Wells Fargo & Company

Wells Fargo & Company reissued their underweight rating on shares of Tesla (NASDAQ:TSLA) in a research note released on Monday, Benzinga reports. The brokerage currently has a $120.00 price target on the electric vehicle producer’s stock.

Several other research firms have also recently issued reports on TSLA. Bank of America raised Tesla from a neutral rating to a buy rating and set a $220.00 price target on the stock in a report on Wednesday, April 24th. Canaccord Genuity Group cut their target price on shares of Tesla from $234.00 to $222.00 and set a buy rating on the stock in a research note on Wednesday, April 24th. Roth Mkm reissued a neutral rating and set a $85.00 target price on shares of Tesla in a research note on Wednesday, April 24th. UBS Group cut their target price on shares of Tesla from $160.00 to $147.00 and set a neutral rating on the stock in a research note on Wednesday, April 24th. Finally, Evercore ISI cut their target price on shares of Tesla from $155.00 to $145.00 and set an in-line rating on the stock in a research note on Monday, April 29th. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Tesla presently has a consensus rating of Hold and an average target price of $189.47.

Tesla Price Performance

NASDAQ TSLA opened at $246.39 on Monday. The stock has a market capitalization of $785.79 billion, a P/E ratio of 62.85, a P/E/G ratio of 5.74 and a beta of 2.31. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29. The business’s fifty day moving average is $182.57 and its two-hundred day moving average is $191.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, research analysts forecast that Tesla will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Apexium Financial LP raised its position in shares of Tesla by 736.8% during the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after buying an additional 21,972 shares during the last quarter. Mount Vernon Associates Inc. MD raised its position in Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after purchasing an additional 350 shares in the last quarter. Forum Financial Management LP raised its position in Tesla by 19.7% in the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock worth $5,410,000 after purchasing an additional 3,582 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in Tesla by 16.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after purchasing an additional 6,615 shares in the last quarter. Finally, Catalyst Financial Partners LLC raised its position in Tesla by 9.4% in the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock worth $1,734,000 after purchasing an additional 598 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Company Profile

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.