Sanford C. Bernstein set a $265.00 price objective on Tesla Inc. (NASDAQ:TSLA) in a research note issued to investors on Monday morning. The brokerage currently has a hold rating on the electric vehicle producer’s stock.
Several other analysts have also commented on TSLA. Berenberg Bank reaffirmed a buy rating on shares of Tesla in a report on Thursday, August 3rd. Citigroup Inc. started coverage on Tesla in a report on Thursday, July 20th. They issued a neutral rating and a $357.00 price objective for the company. Vetr raised Tesla from a hold rating to a buy rating and set a $372.51 price objective for the company in a report on Thursday, August 10th. Jefferies Group LLC started coverage on Tesla in a report on Tuesday, September 19th. They issued an underperform rating and a $280.00 price objective for the company. They noted that the move was a valuation call. Finally, Instinet started coverage on Tesla in a report on Wednesday, October 4th. They issued a buy rating and a $500.00 price objective for the company. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $330.28.
Shares of Tesla (TSLA) opened at $312.50 on Monday. Tesla has a fifty-two week low of $180.00 and a fifty-two week high of $389.61. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09.
Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) EPS for the quarter, topping the Zacks’ consensus estimate of ($3.09) by $0.17. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.94 billion. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 EPS. analysts predict that Tesla will post -11.38 EPS for the current fiscal year.
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In other news, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $355.20, for a total transaction of $777,888.00. Following the transaction, the director now owns 158,584 shares of the company’s stock, valued at $56,329,036.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Eric Branderiz sold 99 shares of the company’s stock in a transaction that occurred 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 55,518 shares of company stock worth $18,819,611 over the last three months. 23.10% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC bought a new position in shares of Tesla during the third quarter valued at approximately $100,000. Pittenger & Anderson Inc. grew its stake in shares of Tesla by 20.0% during the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after buying an additional 50 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new position in shares of Tesla during the third quarter valued at approximately $106,000. Winfield Associates Inc. grew its stake in shares of Tesla by 85.2% during the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after buying an additional 150 shares during the last quarter. Finally, North Star Investment Management Corp. grew its stake in shares of Tesla by 2.8% during the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after buying an additional 9 shares during the last quarter. 56.36% of the stock is currently owned by hedge funds and other institutional investors.
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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