Piper Sandler Reaffirms “Overweight” Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “overweight” rating reissued by stock analysts at Piper Sandler in a note issued to investors on Monday, Benzinga reports. They currently have a $205.00 target price on the electric vehicle producer’s stock. Piper Sandler’s price target points to a potential upside of 41.69% from the stock’s previous close.

A number of other equities analysts have also recently commented on the stock. Redburn Atlantic initiated coverage on shares of Tesla in a research report on Wednesday, January 24th. They set a “sell” rating and a $170.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research report on Friday, April 12th. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Canaccord Genuity Group reduced their target price on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Finally, Sanford C. Bernstein reduced their target price on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research report on Tuesday, March 26th. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $194.33.

Tesla Price Performance

Shares of TSLA opened at $144.68 on Monday. The company has a market cap of $460.78 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 3.89 and a beta of 2.40. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29. The company’s fifty day simple moving average is $176.81 and its 200 day simple moving average is $209.24. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same period last year, the firm earned $1.07 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, research analysts forecast that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 over the last quarter. 20.90% of the stock is owned by company insiders.

Institutional Trading of Tesla

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wyrmwood Management LLC acquired a new stake in Tesla during the 4th quarter valued at approximately $25,000. Lam Group Inc. bought a new position in shares of Tesla during the 4th quarter worth approximately $25,000. Mendota Financial Group LLC boosted its holdings in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV boosted its holdings in shares of Tesla by 94.5% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.