Sanford C. Bernstein Reiterates Hold Rating for Tesla Inc. (TSLA)

Tesla Inc. (NASDAQ:TSLA)‘s stock had its “hold” rating reissued by analysts at Sanford C. Bernstein in a research note issued to investors on Thursday, September 14th. They currently have a $265.00 target price on the electric vehicle producer’s stock. Sanford C. Bernstein’s target price would suggest a potential downside of 24.52% from the company’s previous close.

TSLA has been the subject of several other reports. Berenberg Bank upgraded shares of Tesla from a “hold” rating to a “buy” rating and upped their price objective for the stock from $193.00 to $464.00 in a report on Tuesday, June 13th. Robert W. Baird reiterated an “outperform” rating and issued a $368.00 price target on shares of Tesla in a research note on Tuesday, June 20th. Argus upgraded shares of Tesla from a “hold” rating to a “buy” rating and increased their price target for the stock from $355.17 to $444.00 in a research note on Tuesday, August 8th. Vetr lowered shares of Tesla from a “strong-buy” rating to a “buy” rating and set a $358.85 price target for the company. in a research note on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $180.00 price target (down from $190.00) on shares of Tesla in a research note on Monday, July 31st. Nine equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $314.30.

Shares of Tesla (NASDAQ TSLA) opened at 351.09 on Thursday. The firm has a 50-day moving average of $354.97 and a 200-day moving average of $325.99. The firm’s market capitalization is $58.59 billion. Tesla has a 12-month low of $178.19 and a 12-month high of $389.61.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the business earned ($1.06) EPS. The company’s revenue for the quarter was up 119.6% on a year-over-year basis. Equities analysts anticipate that Tesla will post ($6.29) earnings per share for the current year.

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In other Tesla news, VP Eric Branderiz sold 99 shares of the firm’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 transaction of $34,661.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 4,690 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the sale, the director now owns 166,164 shares in the company, valued at approximately $61,095,179.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,946 shares of company stock worth $18,481,047. 23.10% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Tesla by 10.9% during the first quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock valued at $6,804,556,000 after buying an additional 2,400,034 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of Tesla by 2.5% during the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock valued at $3,792,025,000 after buying an additional 336,130 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Tesla by 4.9% during the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock valued at $2,251,890,000 after buying an additional 292,602 shares during the last quarter. Capital World Investors raised its position in shares of Tesla by 0.6% during the second quarter. Capital World Investors now owns 3,016,552 shares of the electric vehicle producer’s stock valued at $1,090,815,000 after buying an additional 17,452 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Tesla by 4.3% during the second quarter. Jennison Associates LLC now owns 3,002,685 shares of the electric vehicle producer’s stock valued at $1,085,801,000 after buying an additional 124,511 shares during the last quarter. Hedge funds and other institutional investors own 56.63% of the company’s stock.

About Tesla

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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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