Tesla’s (TSLA) “Sell” Rating Reiterated at Guggenheim

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reissued by Guggenheim in a report released on Tuesday, Benzinga reports. They currently have a $122.00 price objective on the electric vehicle producer’s stock. Guggenheim’s price objective would suggest a potential downside of 16.24% from the stock’s current price.

Several other equities research analysts have also commented on TSLA. The Goldman Sachs Group decreased their target price on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. China Renaissance started coverage on shares of Tesla in a research report on Monday, February 26th. They set a “hold” rating for the company. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, April 2nd. Redburn Atlantic began coverage on Tesla in a research note on Wednesday, January 24th. They set a “sell” rating and a $170.00 price objective on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research report on Friday. Eight analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $194.33.

Tesla Stock Up 2.5 %

Shares of TSLA traded up $3.60 during mid-day trading on Tuesday, hitting $145.65. 66,193,366 shares of the company’s stock were exchanged, compared to its average volume of 101,230,883. The company has a market cap of $463.86 billion, a price-to-earnings ratio of 33.81, a P/E/G ratio of 3.89 and a beta of 2.40. The stock’s 50-day moving average is $177.59 and its 200-day moving average is $210.05. Tesla has a fifty-two week low of $138.80 and a fifty-two 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 posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period last year, the company earned $1.07 EPS. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Over the last three months, insiders sold 209,098 shares of company stock worth $38,802,534. Corporate insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TSLA. Norges Bank purchased a new position in shares of Tesla in the fourth quarter worth approximately $7,844,757,000. International Assets Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 buying an additional 3,866,361 shares in the last quarter. California Public Employees Retirement System raised its position in Tesla by 34.0% during 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 buying an additional 2,293,344 shares during the period. Finally, Morgan Stanley boosted its position in Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after acquiring an additional 2,177,397 shares during the period. Institutional investors 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.