Tesla (NASDAQ:TSLA) Rating Reiterated by Wedbush

Wedbush reissued their outperform rating on shares of Tesla (NASDAQ:TSLA) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $275.00 target price on the electric vehicle producer’s stock. Wedbush also issued estimates for Tesla’s Q4 2024 earnings at $0.58 EPS, Q2 2025 earnings at $0.70 EPS and Q4 2025 earnings at $0.80 EPS.

Several other analysts have also weighed in on the company. Edward Jones lowered Tesla from a buy rating to a hold rating in a report on Friday, January 26th. Needham & Company LLC reiterated a hold rating on shares of Tesla in a research note on Wednesday, April 24th. Bank of America upgraded Tesla from a neutral rating to a buy rating and set a $220.00 target price on the stock in a research note on Wednesday, April 24th. HSBC reduced their target price on Tesla from $138.00 to $120.00 and set a reduce rating on the stock in a research note on Wednesday, April 24th. Finally, Daiwa Capital Markets lowered Tesla from an outperform rating to a neutral rating and reduced their target price for the stock from $245.00 to $195.00 in a research note on Tuesday, February 6th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $184.32.

Tesla Stock Performance

NASDAQ:TSLA opened at $179.99 on Monday. The stock’s fifty day moving average is $174.41 and its 200 day moving average is $206.11. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The firm has a market capitalization of $574.02 billion, a PE ratio of 45.92, a PEG ratio of 5.28 and a beta of 2.39. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated 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 in the company, valued at $2,920,950. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,098 shares of company stock valued at $38,802,534. 20.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TSLA. Vanguard Group Inc. raised its position in Tesla by 1.7% during 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 in the last quarter. Norges Bank purchased a new position in Tesla during the fourth quarter valued at approximately $7,844,757,000. Morgan Stanley raised its position in Tesla by 7.8% during 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 in the last quarter. FMR LLC raised its position in Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after acquiring an additional 269,182 shares in the last quarter. Finally, Northern Trust Corp raised its position in Tesla by 3.4% during the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after acquiring an additional 909,170 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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.