Tesla, Inc. (NASDAQ:TSLA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Tesla, Inc. (NASDAQ:TSLA) have received an average recommendation of “Hold” from the thirty-eight research firms that are currently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $210.54.

Several brokerages have recently weighed in on TSLA. Roth Mkm reissued a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. Robert W. Baird restated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a research report on Wednesday, July 24th. Wells Fargo & Company reissued an “underweight” rating and set a $120.00 price target on shares of Tesla in a report on Monday, July 1st. Finally, UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and upped their price objective for the company from $147.00 to $197.00 in a report on Friday, July 12th.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 over the last ninety days. Insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Hedge funds have recently modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after purchasing an additional 206,248 shares during the period. Morse Asset Management Inc raised its stake in Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after buying an additional 3,462 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in Tesla by 7.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after acquiring an additional 1,943 shares in the last quarter. NewEdge Advisors LLC grew its stake in Tesla by 12.9% in the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after acquiring an additional 27,130 shares during the period. Finally, Entropy Technologies LP bought a new stake in shares of Tesla during the first quarter valued at approximately $1,941,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 3.9 %

Shares of NASDAQ:TSLA opened at $250.08 on Friday. Tesla has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a market capitalization of $798.92 billion, a P/E ratio of 63.80, a price-to-earnings-growth ratio of 6.79 and a beta of 2.29. The company has a 50-day simple moving average of $224.00 and a 200 day simple moving average of $201.39.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts forecast that Tesla will post 1.74 earnings per share for the current year.

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.