A number of other research firms have also recently issued reports on TSLA. Robert W. Baird reissued an outperform rating and set a $411.00 target price on shares of Tesla in a research note on Monday, September 18th. Jefferies Group LLC began coverage on Tesla in a research report on Tuesday, September 19th. They set an underperform rating and a $280.00 price target for the company. They noted that the move was a valuation call. Vetr raised Tesla from a strong sell rating to a sell rating and set a $335.62 price target for the company in a research report on Tuesday, June 13th. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the stock a neutral rating in a research report on Wednesday, September 20th. Finally, BidaskClub downgraded Tesla from a strong-buy rating to a buy rating in a research report on Tuesday, June 20th. Ten analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have given a buy rating to the stock. Tesla has a consensus rating of Hold and a consensus price target of $324.87.
Shares of Tesla (NASDAQ:TSLA) opened at 356.88 on Friday. The firm’s market capitalization is $59.56 billion. The company’s 50 day moving average is $354.19 and its 200 day moving average is $334.05. Tesla has a 12-month low of $178.19 and a 12-month high of $389.61.
Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the business earned ($1.06) EPS. Tesla’s revenue for the quarter was up 119.6% compared to the same quarter last year. On average, analysts forecast that Tesla will post ($6.28) earnings per share for the current year.
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In other Tesla news, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total transaction of $703,778.40. Following the completion of the sale, the director now owns 160,274 shares of the company’s stock, valued at approximately $51,505,652.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Eric Branderiz sold 99 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total value of $34,661.88. The disclosure for this sale can be found here. Insiders have sold a total of 51,446 shares of company stock valued at $17,504,929 in the last ninety days. Insiders own 23.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Pittenger & Anderson Inc. lifted its holdings in Tesla by 20.0% during the 2nd quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after purchasing an additional 50 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in Tesla by 1,213.3% during the 1st quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock valued at $109,000 after purchasing an additional 364 shares during the last quarter. Winfield Associates Inc. lifted its holdings in Tesla by 85.2% during the 2nd quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after purchasing an additional 150 shares during the last quarter. Acropolis Investment Management LLC acquired a new stake in Tesla during the 2nd quarter valued at $122,000. Finally, North Star Investment Management Corp. lifted its holdings in Tesla by 2.8% during the 2nd quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after purchasing an additional 9 shares during the last quarter. 56.63% of the stock is owned by institutional investors and hedge funds.
Tesla Company Profile
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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