Royal Bank Of Canada reiterated their hold rating on shares of Tesla Inc. (NASDAQ:TSLA) in a research report report published on Wednesday. They currently have a $314.00 price target on the electric vehicle producer’s stock.
A number of other brokerages have also recently issued reports on TSLA. Zacks Investment Research raised Tesla from a hold rating to a buy rating and set a $345.00 target price for the company in a research report on Tuesday, April 25th. Vetr cut Tesla from a sell rating to a strong sell rating and set a $277.96 price objective for the company. in a research report on Tuesday, May 9th. Deutsche Bank AG reaffirmed a hold rating and set a $240.00 price objective on shares of Tesla in a research report on Thursday, May 4th. Goldman Sachs Group, Inc. (The) reaffirmed a sell rating and set a $180.00 price objective (down from $190.00) on shares of Tesla in a research report on Wednesday, July 5th. Finally, FBN Securities increased their price objective on Tesla from $275.00 to $425.00 and gave the stock an outperform rating in a research report on Monday, April 3rd. Eight research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $293.81.
Tesla (TSLA) traded down 3.4515% during trading on Wednesday, reaching $316.4668. The company’s stock had a trading volume of 4,962,993 shares. The stock’s market capitalization is $51.98 billion. The stock has a 50 day moving average price of $346.84 and a 200 day moving average price of $283.13. Tesla has a 1-year low of $178.19 and a 1-year high of $386.99.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $1.30. Tesla had a negative return on equity of 17.13% and a negative net margin of 8.46%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Analysts anticipate that Tesla will post ($5.86) earnings per share for the current fiscal year.
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In other Tesla news, Director Kimbal Musk sold 4,690 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the completion of the sale, the director now directly owns 166,164 shares in the company, valued at $61,095,179.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 20,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $311.76, for a total transaction of $6,235,200.00. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at $6,235,200. The disclosure for this sale can be found here. Insiders have sold 242,290 shares of company stock valued at $74,919,505 over the last 90 days. Corporate insiders own 23.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Catawba Capital Management VA boosted its stake in Tesla by 4.1% in the first quarter. Catawba Capital Management VA now owns 2,770 shares of the electric vehicle producer’s stock worth $771,000 after buying an additional 110 shares during the period. CENTRAL TRUST Co boosted its stake in Tesla by 14.8% in the first quarter. CENTRAL TRUST Co now owns 1,601 shares of the electric vehicle producer’s stock valued at $446,000 after buying an additional 206 shares during the last quarter. Rathbone Brothers plc boosted its stake in Tesla by 4.6% in the first quarter. Rathbone Brothers plc now owns 12,192 shares of the electric vehicle producer’s stock valued at $3,393,000 after buying an additional 532 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Tesla by 22.1% in the fourth quarter. Macquarie Group Ltd. now owns 48,626 shares of the electric vehicle producer’s stock valued at $10,391,000 after buying an additional 8,800 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in Tesla by 9.8% in the fourth quarter. Teachers Advisors LLC now owns 153,551 shares of the electric vehicle producer’s stock valued at $32,812,000 after buying an additional 13,705 shares during the last quarter. Institutional investors own 63.75% of the company’s stock.
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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