Tesla (NASDAQ:TSLA) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Tesla (NASDAQ:TSLA) in a report issued on Wednesday, Benzinga reports.

Other research analysts have also issued reports about the company. Canaccord Genuity Group cut their price target on Tesla from $267.00 to $234.00 and set a buy rating for the company in a report on Thursday, January 25th. Truist Financial cut their target price on Tesla from $176.00 to $162.00 and set a hold rating for the company in a research note on Wednesday. Barclays cut their target price on Tesla from $225.00 to $180.00 and set an equal weight rating for the company in a research note on Wednesday, April 17th. Robert W. Baird restated an outperform rating and issued a $280.00 target price on shares of Tesla in a research note on Wednesday, April 17th. Finally, TD Cowen cut their target price on Tesla from $200.00 to $180.00 and set a market perform rating for the company in a research note on Thursday, January 25th. Eight research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $186.22.

Tesla Trading Up 12.1 %

Shares of NASDAQ TSLA opened at $162.13 on Wednesday. The stock has a market cap of $516.35 billion, a price-to-earnings ratio of 41.36, a PEG ratio of 3.82 and a beta of 2.39. The business has a 50 day simple moving average of $176.28 and a 200 day simple moving average of $208.91. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 13.68% and a net margin of 14.37%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 EPS. On average, research analysts predict that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,631,600. The disclosure for this sale can be found here. In the last three months, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

Institutional investors have recently modified their holdings of the business. Opal Wealth Advisors LLC grew its position in Tesla by 1.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock worth $1,089,000 after acquiring an additional 42 shares during the last quarter. Holderness Investments Co. grew its position in shares of Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after buying an additional 42 shares during the last quarter. SCS Capital Management LLC grew its position in shares of Tesla by 0.3% in the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after buying an additional 45 shares during the last quarter. Daymark Wealth Partners LLC boosted its position in shares of Tesla by 0.4% during the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after purchasing an additional 45 shares in the last quarter. Finally, ML & R Wealth Management LLC boosted its position in shares of Tesla by 2.6% during the 3rd quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock valued at $455,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

About Tesla

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.