Several other equities research analysts also recently commented on the company. Cowen increased their price objective on Tesla from $233.33 to $244.33 in a report on Thursday, July 21st. Credit Suisse Group restated an outperform rating and issued a $333.33 price target on shares of Tesla in a research note on Tuesday, July 19th. Morgan Stanley dropped their price target on Tesla from $383.00 to $350.00 and set an overweight rating on the stock in a research note on Monday, October 10th. Robert W. Baird dropped their price target on Tesla from $369.33 to $316.33 in a research note on Thursday, July 21st. Finally, JPMorgan Chase & Co. increased their price target on Tesla from $137.00 to $153.00 in a research note on Monday, October 3rd. Seven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $285.65.
Tesla Trading Down 7.5 %
NASDAQ:TSLA opened at $204.99 on Thursday. Tesla has a twelve month low of $204.16 and a twelve month high of $414.50. The company has a quick ratio of 1.06, a current ratio of 1.43 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $277.82 and a two-hundred day moving average price of $274.03. The company has a market cap of $637.12 billion, a P/E ratio of 74.09, a price-to-earnings-growth ratio of 1.90 and a beta of 2.11.
Tesla (NASDAQ:TSLA – Get Rating) last released its quarterly earnings data on Wednesday, July 20th. The electric vehicle producer reported $0.76 EPS for the quarter, beating the consensus estimate of $0.60 by $0.16. The company had revenue of $16.93 billion during the quarter, compared to the consensus estimate of $16.92 billion. Tesla had a return on equity of 29.04% and a net margin of 14.17%. The firm’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. As a group, analysts expect that Tesla will post 3.6 EPS for the current fiscal year.
Insider Activity at Tesla
In related news, SVP Andrew D. Baglino sold 3,500 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $791.50, for a total transaction of $2,770,250.00. Following the completion of the sale, the senior vice president now directly owns 20,567 shares in the company, valued at approximately $16,278,780.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Andrew D. Baglino sold 3,500 shares of the stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $791.50, for a total value of $2,770,250.00. Following the completion of the transaction, the senior vice president now owns 20,567 shares of the company’s stock, valued at approximately $16,278,780.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Zachary Kirkhorn sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $300.59, for a total value of $1,127,212.50. Following the transaction, the chief financial officer now directly owns 192,777 shares of the company’s stock, valued at approximately $57,946,838.43. The disclosure for this sale can be found here. Insiders sold 84,500 shares of company stock worth $41,138,505 in the last ninety days. 25.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On Tesla
Several institutional investors and hedge funds have recently bought and sold shares of TSLA. First Financial Corp IN bought a new stake in Tesla during the first quarter valued at about $32,000. AlphaCentric Advisors LLC purchased a new position in shares of Tesla during the fourth quarter valued at approximately $33,000. Horan Securities Inc. boosted its position in shares of Tesla by 164.3% during the second quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 23 shares during the period. TFO TDC LLC purchased a new position in shares of Tesla during the second quarter valued at approximately $27,000. Finally, Icapital Wealth LLC purchased a new position in shares of Tesla during the first quarter valued at approximately $45,000. 43.01% of the stock is currently owned by hedge funds and other institutional investors.
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.
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