Tesla Inc (NASDAQ:TSLA)‘s stock had its “hold” rating restated by analysts at Deutsche Bank AG in a report released on Monday. They presently have a $240.00 target price on the electric vehicle producer’s stock, up from their previous target price of $220.00. Deutsche Bank AG’s target price would indicate a potential downside of 8.37% from the company’s previous close.
A number of other equities analysts have also weighed in on the stock. Morgan Stanley dropped their price target on shares of Tesla from $245.00 to $242.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 23rd. Goldman Sachs Group Inc reiterated a “sell” rating and issued a $187.00 price target (up from $185.00) on shares of Tesla in a research report on Friday. Vetr lowered shares of Tesla from a “hold” rating to a “sell” rating and set a $244.13 price target for the company. in a research report on Tuesday, March 14th. TheStreet upgraded shares of Tesla from a “d+” rating to a “c-” rating in a research report on Wednesday, January 25th. Finally, Sanford C. Bernstein initiated coverage on shares of Tesla in a report on Wednesday, March 8th. They issued a “market perform” rating and a $250.00 target price on the stock. Eight investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $254.69.
Shares of Tesla (NASDAQ:TSLA) traded up 0.16% during trading on Monday, reaching $261.92. The company had a trading volume of 3,598,195 shares. The firm has a 50 day moving average price of $258.19 and a 200 day moving average price of $218.53. Tesla has a 12 month low of $178.19 and a 12 month high of $287.39. The company’s market cap is $42.34 billion.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, February 22nd. The electric vehicle producer reported ($0.69) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by $0.26. The firm earned $2.29 billion during the quarter, compared to the consensus estimate of $2.21 billion. Tesla had a negative return on equity of 29.17% and a negative net margin of 14.74%. The business’s revenue for the quarter was up 88.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.87) earnings per share. Analysts predict that Tesla will post ($1.42) earnings per share for the current year.
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In related news, Director Kimbal Musk sold 2,500 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $212.90, for a total value of $532,250.00. Following the completion of the transaction, the director now directly owns 166,846 shares of the company’s stock, valued at approximately $35,521,513.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Douglas Field sold 1,000 shares of the stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $228.61, for a total transaction of $228,610.00. Following the completion of the transaction, the vice president now directly owns 15,433 shares of the company’s stock, valued at $3,528,138.13. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,700 shares of company stock valued at $3,610,196. Insiders own 27.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Investment Management LLC raised its position in shares of Tesla by 3.2% in the third quarter. BlackRock Investment Management LLC now owns 49,394 shares of the electric vehicle producer’s stock valued at $10,078,000 after buying an additional 1,522 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tesla by 21.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,881 shares of the electric vehicle producer’s stock valued at $14,054,000 after buying an additional 12,131 shares during the last quarter. Stevens Capital Management LP bought a new position in shares of Tesla during the third quarter valued at approximately $4,092,000. BlackRock Institutional Trust Company N.A. raised its position in shares of Tesla by 4.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,807,714 shares of the electric vehicle producer’s stock valued at $572,858,000 after buying an additional 110,714 shares during the last quarter. Finally, Comerica Bank raised its position in shares of Tesla by 262.9% in the fourth quarter. Comerica Bank now owns 7,037 shares of the electric vehicle producer’s stock valued at $1,673,000 after buying an additional 5,098 shares during the last quarter. 57.29% of the stock is owned by hedge funds and other institutional investors.
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world.
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