Tesla (NASDAQ:TSLA) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Wednesday morning, Benzinga reports.

Several other analysts have also issued reports on the company. Sanford C. Bernstein lowered their target price on Tesla from $150.00 to $120.00 and set an underperform rating on the stock in a research note on Tuesday, March 26th. Redburn Atlantic assumed coverage on Tesla in a research note on Wednesday, January 24th. They issued a sell rating and a $170.00 target price on the stock. The Goldman Sachs Group lowered their target price on Tesla from $190.00 to $175.00 and set a neutral rating on the stock in a research note on Tuesday, April 9th. Royal Bank of Canada restated an outperform rating and issued a $298.00 target price on shares of Tesla in a research note on Wednesday, March 27th. Finally, Daiwa Capital Markets lowered Tesla from an outperform rating to a neutral rating and decreased their price objective for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of Hold and a consensus price target of $186.70.

Tesla Stock Down 1.1 %

TSLA stock opened at $168.29 on Wednesday. The stock’s fifty day simple moving average is $175.04 and its two-hundred day simple moving average is $207.61. The company has a current ratio of 1.72, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29. The stock has a market cap of $536.71 billion, a P/E ratio of 42.93, a P/E/G ratio of 4.50 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share. Analysts expect that Tesla will post 1.97 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’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. Insiders have sold 209,098 shares of company stock worth $38,802,534 in the last ninety days. 25.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tesla

Hedge funds and other institutional investors have recently modified their holdings of the company. Wyrmwood Management LLC purchased a new stake in Tesla during the 4th quarter valued at about $25,000. Lam Group Inc. purchased a new stake in Tesla during the 4th quarter valued at about $25,000. Mendota Financial Group LLC boosted its holdings in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV boosted its holdings in Tesla by 94.5% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 69 shares during the period. Finally, OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the 4th quarter valued at about $37,000. 66.20% 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; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.