Tesla Inc. (TSLA) Rating Reiterated by Sanford C. Bernstein
Tesla Inc. (NASDAQ:TSLA)‘s stock had its “market perform” rating restated by Sanford C. Bernstein in a report issued on Tuesday. They currently have a $265.00 price target on the electric vehicle producer’s stock. Sanford C. Bernstein’s target price points to a potential downside of 25.35% from the stock’s previous close.
Other analysts have also issued reports about the company. Goldman Sachs Group, Inc. (The) raised their target price on Tesla from $180.00 to $190.00 in a report on Friday, August 4th. Guggenheim reaffirmed a “buy” rating and set a $430.00 target price (up from $380.00) on shares of Tesla in a report on Wednesday, July 5th. BidaskClub lowered Tesla from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Global Equities Research reaffirmed a “buy” rating and set a $385.00 target price on shares of Tesla in a report on Tuesday, June 13th. Finally, Berenberg Bank raised Tesla from a “hold” rating to a “buy” rating and raised their target price for the stock from $193.00 to $464.00 in a report on Tuesday, June 13th. Ten analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $324.87.
Shares of Tesla (TSLA) opened at 354.4183 on Tuesday. The company’s market capitalization is $59.15 billion. Tesla has a 1-year low of $178.19 and a 1-year high of $389.61. The firm’s 50 day moving average price is $354.26 and its 200-day moving average price is $333.21.
Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping the consensus estimate of ($2.00) by $0.67. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. Tesla’s revenue for the quarter was up 119.6% compared to the same quarter last year. During the same period last year, the company earned ($1.06) earnings per share. Analysts expect that Tesla will post ($6.28) EPS for the current year.
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In related news, Director Stephen T. Jurvetson sold 44,777 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the completion of the transaction, the director now directly owns 36,111 shares of the company’s stock, valued at approximately $12,290,739.96. The transaction 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 business’s stock in a transaction on Tuesday, September 5th. The stock was 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 sold 51,446 shares of company stock valued at $17,504,929 over the last ninety days. Insiders own 23.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. grew its stake in Tesla by 20.0% during the 2nd quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after purchasing an additional 50 shares in the last quarter. Winfield Associates Inc. grew its stake in Tesla by 85.2% during the 2nd quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after purchasing an additional 150 shares in the last quarter. Acropolis Investment Management LLC acquired a new position in Tesla during the 2nd quarter worth $122,000. North Star Investment Management Corp. grew its stake 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 worth $122,000 after purchasing an additional 9 shares in the last quarter. Finally, Carroll Financial Associates Inc. grew its stake in Tesla by 8.7% during the 2nd quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock worth $126,000 after purchasing an additional 28 shares in the last quarter. 56.63% of the stock is 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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