Oppenheimer Reaffirms Market Perform Rating for Tesla (NASDAQ:TSLA)

Oppenheimer reiterated their market perform rating on shares of Tesla (NASDAQ:TSLA) in a research report released on Wednesday morning, Benzinga reports.

Other equities analysts have also issued research reports about the company. UBS Group cut their price target on Tesla from $225.00 to $165.00 and set a neutral rating for the company in a research note on Thursday, March 14th. Sanford C. Bernstein cut their price target on Tesla from $150.00 to $120.00 and set an underperform rating for the company in a research note on Tuesday, March 26th. Piper Sandler restated an overweight rating and issued a $205.00 price target on shares of Tesla in a research note on Monday, April 22nd. JPMorgan Chase & Co. cut their price target on Tesla from $130.00 to $115.00 and set an underweight rating for the company in a research note on Wednesday, April 3rd. Finally, Canaccord Genuity Group cut their price target on Tesla from $267.00 to $234.00 and set a buy rating for the company in a research note on Thursday, January 25th. Eight investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of Hold and a consensus price target of $186.70.

Tesla Stock Performance

NASDAQ TSLA opened at $168.29 on Wednesday. The stock has a 50-day simple moving average of $175.04 and a two-hundred day simple moving average of $208.00. The firm has a market capitalization of $535.97 billion, a P/E ratio of 42.93, a PEG ratio of 4.28 and a beta of 2.39. 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 0.04, a quick ratio of 1.25 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the previous year, the business posted $1.07 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities analysts forecast that Tesla will post 1.97 earnings per share for the current year.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were 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 directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,098 shares of company stock worth $38,802,534. Insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wyrmwood Management LLC purchased a new stake in shares of Tesla during the fourth quarter worth $25,000. Lam Group Inc. purchased a new stake in shares of Tesla during the fourth quarter worth $25,000. Mendota Financial Group LLC increased its position in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV increased its position in shares of Tesla by 94.5% during the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after acquiring an additional 69 shares during the period. Finally, OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla during the fourth quarter worth $37,000. Hedge funds and other 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.