Tesla (NASDAQ:TSLA) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Tesla (NASDAQ:TSLA) in a report released on Thursday, Benzinga reports.

A number of other equities research analysts have also recently commented on TSLA. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Friday, October 11th. Guggenheim lifted their target price on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. Wells Fargo & Company upped their price target on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday. Argus reiterated a “buy” rating and set a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. Finally, UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $147.00 to $197.00 in a report on Friday, July 12th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $218.18.

Tesla Stock Performance

TSLA stock opened at $260.48 on Thursday. Tesla has a one year low of $138.80 and a one year high of $271.00. The firm has a market cap of $832.14 billion, a price-to-earnings ratio of 73.17, a PEG ratio of 6.24 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a 50-day simple moving average of $228.54 and a two-hundred day simple moving average of $206.41.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. On average, equities analysts forecast that Tesla will post 1.75 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 20.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after buying an additional 206,248 shares during the last quarter. Morse Asset Management Inc grew its stake in Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after acquiring an additional 3,462 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Tesla by 12.9% in the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after acquiring an additional 27,130 shares during the last quarter. Entropy Technologies LP purchased a new position in Tesla in the 1st quarter worth approximately $1,941,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Tesla in the first quarter valued at approximately $79,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.