Tesla (NASDAQ:TSLA) Rating Reiterated by Oppenheimer

Tesla (NASDAQ:TSLA)‘s stock had its “market perform” rating restated by stock analysts at Oppenheimer in a note issued to investors on Wednesday, Benzinga reports.

A number of other equities research analysts have also issued reports on the stock. Sanford C. Bernstein decreased their target price on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research note on Tuesday, March 26th. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Deutsche Bank Aktiengesellschaft lowered shares of Tesla from a “buy” rating to a “hold” rating and reduced their price objective for the company from $189.00 to $123.00 in a research note on Thursday, April 18th. China Renaissance started coverage on shares of Tesla in a research note on Monday, February 26th. They issued a “hold” rating for the company. Finally, Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research note on Wednesday. Eight research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $186.70.

Tesla Trading Up 5.0 %

Shares of NASDAQ:TSLA opened at $170.18 on Wednesday. The firm has a fifty day moving average of $175.67 and a two-hundred day moving average of $208.64. The firm has a market capitalization of $541.99 billion, a P/E ratio of 43.41, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last issued 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 analyst estimates of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.68%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the business earned $1.07 EPS. On average, equities analysts expect that Tesla will post 1.97 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 over the last quarter. 25.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

A number of large investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Tesla in the fourth quarter valued at about $7,844,757,000. International Assets Investment Management LLC grew its stake in Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after acquiring an additional 6,179,032 shares during the period. Vanguard Group Inc. grew its stake in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after acquiring an additional 3,866,361 shares during the period. California Public Employees Retirement System grew its stake in Tesla by 34.0% in the third quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock valued at $2,260,039,000 after acquiring an additional 2,293,344 shares during the period. Finally, Morgan Stanley grew its stake in Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after acquiring an additional 2,177,397 shares during the period. 66.20% of the stock is currently 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.