Barclays PLC Reaffirms “Sell” Rating for Tesla Inc. (TSLA)
TSLA has been the topic of several other reports. Robert W. Baird reissued an outperform rating and set a $368.00 price target on shares of Tesla in a research report on Tuesday, June 20th. Argus raised Tesla from a hold rating to a buy rating and upped their price target for the company from $355.17 to $444.00 in a research report on Tuesday, August 8th. Vetr lowered Tesla from a strong-buy rating to a buy rating and set a $358.85 price target on the stock. in a research report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) reissued a sell rating and set a $180.00 price target (down from $190.00) on shares of Tesla in a research report on Monday, July 31st. Finally, Berenberg Bank reissued a buy rating on shares of Tesla in a research report on Thursday, August 3rd. Ten analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $327.37.
Shares of Tesla (TSLA) opened at 355.75 on Friday. Tesla has a 12-month low of $178.19 and a 12-month high of $389.61. The firm’s 50-day moving average is $355.31 and its 200-day moving average is $338.28. The firm’s market cap is $59.37 billion.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business’s revenue was up 119.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.06) EPS. Equities analysts expect that Tesla will post ($6.51) earnings per share for the current fiscal year.
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In other news, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total transaction of $703,778.40. Following the completion of the sale, the director now directly owns 160,274 shares of the company’s stock, valued at $51,505,652.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephen T. Jurvetson sold 44,777 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total value of $15,240,299.72. Following the sale, the director now directly owns 36,111 shares of the company’s stock, valued at $12,290,739.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,446 shares of company stock valued at $17,504,929. 23.10% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Pittenger & Anderson Inc. lifted its stake in Tesla by 20.0% in the 2nd quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after acquiring an additional 50 shares in the last quarter. Winfield Associates Inc. lifted its stake in Tesla by 85.2% in the 2nd quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after acquiring an additional 150 shares in the last quarter. Acropolis Investment Management LLC purchased a new stake in Tesla in the 2nd quarter worth about $122,000. North Star Investment Management Corp. lifted its stake in Tesla by 2.8% in the 2nd quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after acquiring an additional 9 shares in the last quarter. Finally, Carroll Financial Associates Inc. lifted its stake in Tesla by 8.7% in the 2nd quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock worth $126,000 after acquiring an additional 28 shares in the last quarter. 56.62% of the stock is owned by hedge funds and other institutional investors.
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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