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

Guggenheim reissued their sell rating on shares of Tesla (NASDAQ:TSLA) in a report released on Tuesday, Benzinga reports. The firm currently has a $126.00 target price on the electric vehicle producer’s stock.

Other equities analysts have also issued reports about the stock. Mizuho decreased their price objective on shares of Tesla from $195.00 to $180.00 and set a neutral rating on the stock in a report on Wednesday, April 24th. Royal Bank of Canada lowered their price target on Tesla from $293.00 to $227.00 and set an outperform rating for the company in a research report on Thursday, June 20th. Morgan Stanley reiterated an overweight rating and issued a $310.00 price objective on shares of Tesla in a report on Thursday, June 20th. Barclays lowered their target price on Tesla from $225.00 to $180.00 and set an equal weight rating for the company in a report on Wednesday, April 17th. Finally, Needham & Company LLC reiterated a hold rating on shares of Tesla in a research note on Wednesday, April 24th. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $187.30.

Tesla Price Performance

NASDAQ:TSLA opened at $187.35 on Tuesday. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29. The stock’s fifty day moving average is $175.02 and its two-hundred day moving average is $192.25. The company has a market capitalization of $597.50 billion, a P/E ratio of 47.79, a P/E/G ratio of 4.54 and a beta of 2.32. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Equities analysts expect that Tesla will post 1.87 EPS for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value 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 $2,772,900. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated 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 sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were 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 directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Insiders have sold 104,855 shares of company stock valued at $19,285,643 in the last ninety days. Insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

Institutional investors and hedge funds have recently bought and sold shares of the business. Holderness Investments Co. increased its stake in Tesla by 1.6% in the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after purchasing an additional 42 shares during the period. Daymark Wealth Partners LLC increased its position in Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after acquiring an additional 45 shares during the period. Cravens & Co Advisors LLC raised its stake in Tesla by 1.2% during the 3rd quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock valued at $1,025,000 after acquiring an additional 48 shares during the last quarter. Patten & Patten Inc. TN lifted its position in Tesla by 1.1% during the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after acquiring an additional 48 shares during the period. Finally, Caerus Investment Advisors LLC grew its stake in shares of Tesla by 0.3% in the 4th quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock valued at $3,577,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.