Needham & Company LLC Reiterates “Hold” Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “hold” rating reiterated by analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports.

A number of other analysts also recently commented on TSLA. Morgan Stanley upped their price objective on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. UBS Group upped their price target on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research note on Thursday, January 30th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Piper Sandler increased their target price on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Glj Research restated a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Friday, January 3rd. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $322.29.

Tesla Stock Down 3.4 %

Shares of NASDAQ:TSLA opened at $361.62 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.16 trillion, a price-to-earnings ratio of 177.27, a PEG ratio of 6.22 and a beta of 2.34. The stock’s 50-day moving average price is $408.27 and its two-hundred day moving average price is $303.93. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, research analysts forecast that Tesla will post 2.54 EPS for the current year.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 560,776 shares of company stock worth $203,744,862. 20.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Transcendent Capital Group LLC acquired a new position in Tesla during the 3rd quarter valued at about $29,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Tesla in the fourth quarter valued at approximately $46,000. Parkworth Wealth Management Inc. bought a new stake in Tesla during the fourth quarter worth approximately $47,000. PayPay Securities Corp lifted its position in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the period. Finally, Peterson Financial Group Inc. acquired a new position in shares of Tesla during the 3rd quarter valued at $35,000. Institutional investors own 66.20% of the company’s stock.

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.