Tesla (NASDAQ:TSLA) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Tesla (NASDAQ:TSLA) from a sell rating to a hold rating in a research report sent to investors on Thursday.

TSLA has been the topic of several other reports. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Jefferies Financial Group increased their price objective on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 target price on shares of Tesla in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Roth Mkm reissued a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Friday, October 11th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $219.00.

Tesla Price Performance

NASDAQ:TSLA opened at $269.19 on Thursday. The firm has a market cap of $864.12 billion, a price-to-earnings ratio of 73.75, a price-to-earnings-growth ratio of 7.59 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average is $230.53 and its two-hundred day moving average is $207.92. Tesla has a 12-month low of $138.80 and a 12-month high of $271.00.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. Research analysts expect that Tesla will post 1.75 EPS for the current year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several large investors have recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in 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 lifted its stake in Tesla by 138.1% in the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after buying an additional 3,462 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Tesla by 12.9% in the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after buying an additional 27,130 shares during the last quarter. Entropy Technologies LP bought a new stake in Tesla in the first quarter valued at $1,941,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Tesla in the first quarter valued at $79,000. 66.20% of the stock is currently owned by institutional investors.

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.