Tesla (NASDAQ:TSLA) Rating Reiterated by Oppenheimer

Tesla (NASDAQ:TSLAGet Free Report)‘s stock had its “market perform” rating reissued by investment analysts at Oppenheimer in a report released on Tuesday, Benzinga reports.

TSLA has been the topic of a number of other research reports. Canaccord Genuity Group increased their target price on Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Evercore ISI cut their target price on Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday, April 29th. JPMorgan Chase & Co. cut their target price on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $175.00 target price on shares of Tesla in a research report on Wednesday, July 3rd. Finally, New Street Research restated a “buy” rating and set a $235.00 price target on shares of Tesla in a report on Tuesday, June 25th. Seven analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $195.39.

View Our Latest Report on TSLA

Tesla Trading Up 0.4 %

Shares of NASDAQ:TSLA opened at $263.26 on Tuesday. The company has a market cap of $839.59 billion, a P/E ratio of 67.16, a PEG ratio of 6.27 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29. The stock’s fifty day moving average price is $190.19 and its 200-day moving average price is $191.41.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Sell-side analysts expect that Tesla will post 1.86 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently made changes to their positions in TSLA. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter worth $7,844,757,000. International Assets Investment Management LLC lifted its stake in shares of Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after purchasing an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

About Tesla

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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.

Further Reading

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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