Wolfe Research Downgrades Tesla (NASDAQ:TSLA) to Peer Perform

Tesla (NASDAQ:TSLA – Get Rating) was downgraded by investment analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report released on Monday, MarketBeat Ratings reports.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. dropped their price target on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 25th. Cowen increased their price objective on Tesla from $122.00 to $140.00 and gave the stock a “market perform” rating in a research report on Thursday, January 26th. Mizuho decreased their price objective on Tesla from $285.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, January 5th. Royal Bank of Canada increased their price objective on Tesla from $186.00 to $223.00 and gave the stock an “outperform” rating in a research report on Monday, February 6th. Finally, Daiwa Capital Markets increased their price objective on Tesla from $200.00 to $218.00 and gave the stock an “outperform” rating in a research report on Friday, March 3rd. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $221.39.

Tesla Trading Up 5.0 %

TSLA opened at $183.26 on Monday. Tesla has a one year low of $101.81 and a one year high of $384.29. The company has a market cap of $579.85 billion, a P/E ratio of 50.62, a PEG ratio of 2.10 and a beta of 2.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.05 and a current ratio of 1.53. The business’s 50-day simple moving average is $171.23 and its 200-day simple moving average is $198.59.

Tesla (NASDAQ:TSLA – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The electric vehicle producer reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.21. The firm had revenue of $24.32 billion for the quarter, compared to the consensus estimate of $24.26 billion. Tesla had a return on equity of 31.71% and a net margin of 15.41%. The firm’s quarterly revenue was up 37.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. As a group, equities research analysts expect that Tesla will post 3.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 1,298 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $195.79, for a total transaction of $254,135.42. Following the completion of the transaction, the senior vice president now owns 65,547 shares of the company’s stock, valued at $12,833,447.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Andrew D. Baglino sold 1,298 shares of Tesla stock in a transaction on Monday, March 6th. The stock was sold at an average price of $195.79, for a total value of $254,135.42. Following the completion of the sale, the senior vice president now owns 65,547 shares of the company’s stock, valued at $12,833,447.13. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Vaibhav Taneja sold 2,466 shares of Tesla stock in a transaction on Monday, March 6th. The shares were sold at an average price of $195.79, for a total value of $482,818.14. Following the completion of the sale, the chief accounting officer now directly owns 100,458 shares of the company’s stock, valued at approximately $19,668,671.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,221 shares of company stock valued at $8,988,542. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Tesla by 212.2% in the third quarter. Vanguard Group Inc. now owns 213,024,517 shares of the electric vehicle producer’s stock valued at $56,504,752,000 after acquiring an additional 144,784,989 shares during the last quarter. State Street Corp boosted its holdings in Tesla by 213.5% in the third quarter. State Street Corp now owns 99,647,239 shares of the electric vehicle producer’s stock valued at $26,431,430,000 after acquiring an additional 67,859,515 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Tesla by 229.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 46,956,884 shares of the electric vehicle producer’s stock valued at $12,493,433,000 after acquiring an additional 32,723,798 shares during the last quarter. Norges Bank acquired a new position in Tesla in the fourth quarter valued at $3,459,540,000. Finally, Moneta Group Investment Advisors LLC boosted its holdings in Tesla by 180,125.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after acquiring an additional 26,836,879 shares during the last quarter. Hedge funds and other institutional investors own 43.00% of the company’s stock.

Tesla Company Profile

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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.