Tesla Inc. (TSLA) Upgraded by Vetr Inc. to “Sell”
Vetr upgraded shares of Tesla Inc. (NASDAQ:TSLA) from a strong sell rating to a sell rating in a research report released on Tuesday. The firm currently has $308.16 target price on the electric vehicle producer’s stock.
TSLA has been the subject of several other reports. Robert W. Baird restated a buy rating and set a $411.00 price objective on shares of Tesla in a research report on Friday, September 29th. Piper Jaffray Companies restated an overweight rating and set a $386.00 target price on shares of Tesla in a research note on Wednesday, September 27th. Sanford C. Bernstein set a $265.00 target price on Tesla and gave the company a neutral rating in a report on Wednesday, September 27th. Morgan Stanley reaffirmed a hold rating and issued a $317.00 target price on shares of Tesla in a report on Tuesday, September 26th. Finally, Jefferies Group LLC started coverage on Tesla in a research note on Tuesday, September 19th. They issued an underperform rating and a $280.00 price target on the stock. They noted that the move was a valuation call. Ten research analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have given a buy rating to the company. Tesla has a consensus rating of Hold and a consensus price target of $325.52.
Shares of Tesla (NASDAQ TSLA) traded up 2.55% during midday trading on Tuesday, reaching $357.02. 5,377,426 shares of the company were exchanged. The stock has a 50-day moving average price of $354.47 and a 200 day moving average price of $333.05. The company’s market capitalization is $59.58 billion. Tesla has a 52-week low of $178.19 and a 52-week high of $389.61.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.00) by $0.67. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm’s quarterly revenue was up 119.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.06) EPS. Equities research analysts expect that Tesla will post ($6.28) EPS for the current fiscal year.
In related news, VP Eric Branderiz sold 99 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen T. Jurvetson sold 44,777 shares of the business’s stock in a transaction that occurred 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 owns 36,111 shares of the company’s stock, valued at $12,290,739.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,256 shares of company stock worth $16,756,628. Corporate insiders own 23.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pittenger & Anderson Inc. lifted its holdings in shares of 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 buying an additional 50 shares during the period. Winfield Associates Inc. grew its stake in shares of 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 period. Acropolis Investment Management LLC bought a new stake in shares of Tesla during the 2nd quarter valued at about $122,000. North Star Investment Management Corp. grew its stake in shares of 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 period. Finally, Carroll Financial Associates Inc. grew its stake in shares of Tesla by 8.7% during the 2nd quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock valued at $126,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 56.63% of the company’s stock.
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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