Tesla (NASDAQ:TSLA) Given Overweight Rating at Morgan Stanley

Morgan Stanley restated their overweight rating on shares of Tesla (NASDAQ:TSLA) in a report released on Thursday morning, Benzinga reports. They currently have a $310.00 price objective on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reiterated a buy rating and set a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. Oppenheimer reiterated a market perform rating on shares of Tesla in a report on Tuesday, July 9th. Mizuho raised their price objective on Tesla from $180.00 to $230.00 and gave the stock a neutral rating in a report on Friday, July 12th. Sanford C. Bernstein reiterated an underperform rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday. Finally, Cantor Fitzgerald reissued a neutral rating and issued a $245.00 price target on shares of Tesla in a research note on Monday, September 30th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $210.54.

Tesla Stock Up 3.9 %

Shares of NASDAQ TSLA opened at $250.08 on Thursday. The business has a 50-day moving average price of $224.00 and a 200 day moving average price of $201.78. The stock has a market cap of $798.92 billion, a PE ratio of 63.80, a price-to-earnings-growth ratio of 6.79 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla has a 52-week low of $138.80 and a 52-week high of $271.00.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter last year, the company earned $0.78 EPS. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Tesla will post 1.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 in the last three months. 25.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after buying an additional 206,248 shares during the period. Morse Asset Management Inc grew its position in Tesla by 138.1% during the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after buying an additional 3,462 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of Tesla by 7.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after purchasing an additional 1,943 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Tesla by 12.9% during the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after acquiring an additional 27,130 shares during the period. Finally, Entropy Technologies LP acquired a new stake in shares of Tesla during the first quarter worth approximately $1,941,000. 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.