Morgan Stanley set a $291.00 price objective on Tesla (NASDAQ:TSLA) in a report released on Tuesday, September 18th. The firm currently has a hold rating on the electric vehicle producer’s stock.

Other equities research analysts also recently issued reports about the stock. Nomura raised their target price on shares of Tesla from $420.00 to $450.00 and gave the company a buy rating in a research note on Friday, June 8th. Piper Jaffray Companies set a $369.00 price target on shares of Tesla and gave the company a buy rating in a report on Thursday, June 7th. Robert W. Baird set a $411.00 price target on shares of Tesla and gave the company a buy rating in a report on Thursday, June 7th. Guggenheim set a $430.00 price target on shares of Tesla and gave the company a buy rating in a report on Tuesday, May 29th. Finally, Berenberg Bank set a $500.00 price target on shares of Tesla and gave the company a buy rating in a report on Monday, May 21st. Fifteen analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $306.59.

TSLA stock traded up $6.55 during trading hours on Tuesday, reaching $258.78. 7,188,724 shares of the stock were exchanged, compared to its average volume of 8,681,042. The stock has a market cap of $45.17 billion, a PE ratio of -22.54 and a beta of 0.84. The company has a current ratio of 0.73, a quick ratio of 0.37 and a debt-to-equity ratio of 2.01. Tesla has a 12 month low of $244.59 and a 12 month high of $387.46.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 1st. The electric vehicle producer reported ($3.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($3.61) by $0.55. Tesla had a negative net margin of 19.89% and a negative return on equity of 50.84%. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the business posted ($1.33) EPS. The company’s quarterly revenue was up 43.5% on a year-over-year basis. On average, analysts forecast that Tesla will post -10.77 earnings per share for the current fiscal year.

In other Tesla news, Director Kimbal Musk sold 1,875 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $306.00, for a total value of $573,750.00. Following the transaction, the director now directly owns 150,208 shares in the company, valued at $45,963,648. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jerome M. Guillen sold 1,000 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $306.00, for a total transaction of $306,000.00. Following the completion of the transaction, the insider now owns 8,598 shares in the company, valued at $2,630,988. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its stake in shares of Tesla by 3.1% during the 2nd quarter. Baillie Gifford & Co. now owns 13,171,801 shares of the electric vehicle producer’s stock valued at $4,517,269,000 after buying an additional 395,727 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Tesla by 33.6% during the 2nd quarter. Jennison Associates LLC now owns 4,332,187 shares of the electric vehicle producer’s stock valued at $1,485,724,000 after buying an additional 1,089,377 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in shares of Tesla by 74,343.1% during the 1st quarter. Summit Trail Advisors LLC now owns 583,634 shares of the electric vehicle producer’s stock valued at $584,000 after buying an additional 582,850 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Tesla by 26.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 500,508 shares of the electric vehicle producer’s stock valued at $171,649,000 after buying an additional 103,468 shares in the last quarter. Finally, ARK Investment Management LLC lifted its stake in shares of Tesla by 40.7% during the 2nd quarter. ARK Investment Management LLC now owns 443,874 shares of the electric vehicle producer’s stock valued at $152,227,000 after buying an additional 128,497 shares in the last quarter. Hedge funds and other institutional investors own 62.03% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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