Tesla’s (TSLA) “Hold” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their hold rating on shares of Tesla Inc (NASDAQ:TSLA) in a research report sent to investors on Thursday morning. The firm currently has a $314.00 target price on the electric vehicle producer’s stock.

A number of other equities research analysts have also issued reports on TSLA. Vetr lowered shares of Tesla from a buy rating to a hold rating and set a $198.36 target price on the stock. in a report on Monday, December 12th. Berenberg Bank reiterated a hold rating and set a $193.00 target price on shares of Tesla in a report on Tuesday, December 13th. Deutsche Bank AG reissued a hold rating and issued a $215.00 price objective (down from $290.00) on shares of Tesla in a research report on Tuesday, December 13th. Robert W. Baird reissued a buy rating on shares of Tesla in a research report on Wednesday, December 14th. Finally, Pacific Crest reissued a hold rating on shares of Tesla in a research report on Tuesday, December 20th. Eight research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $266.42.

Tesla (NASDAQ:TSLA) traded up 1.02% on Thursday, hitting $305.60. The company’s stock had a trading volume of 4,506,187 shares. Tesla has a 12 month low of $178.19 and a 12 month high of $313.73. The firm has a 50 day moving average of $274.79 and a 200 day moving average of $232.49. The firm’s market cap is $49.41 billion.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, February 22nd. The electric vehicle producer reported ($0.69) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.43) by $0.26. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.21 billion. Tesla had a negative return on equity of 29.17% and a negative net margin of 14.74%. Tesla’s quarterly revenue was up 88.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.87) earnings per share. Equities research analysts forecast that Tesla will post ($1.63) earnings per share for the current fiscal year.

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In other news, CEO Elon Musk bought 95,420 shares of Tesla stock in a transaction that occurred on Friday, March 17th. The stock was purchased at an average cost of $262.00 per share, with a total value of $25,000,040.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Antonio J. Gracias sold 5,600 shares of the firm’s stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $254.37, for a total value of $1,424,472.00. Following the completion of the transaction, the director now directly owns 5,600 shares of the company’s stock, valued at $1,424,472. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,391 shares of company stock worth $4,399,594. Corporate insiders own 27.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Tesla by 18.8% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,531 shares of the electric vehicle producer’s stock valued at $3,577,000 after buying an additional 2,776 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of Tesla by 7.9% in the third quarter. Great West Life Assurance Co. Can now owns 60,571 shares of the electric vehicle producer’s stock valued at $12,335,000 after buying an additional 4,437 shares during the period. Brighton Jones LLC boosted its position in shares of Tesla by 156.6% in the third quarter. Brighton Jones LLC now owns 4,083 shares of the electric vehicle producer’s stock valued at $833,000 after buying an additional 2,492 shares during the period. Rehmann Capital Advisory Group boosted its position in shares of Tesla by 1.6% in the third quarter. Rehmann Capital Advisory Group now owns 1,184 shares of the electric vehicle producer’s stock valued at $242,000 after buying an additional 19 shares during the period. Finally, Reilly Financial Advisors LLC boosted its position in shares of Tesla by 92.9% in the third quarter. Reilly Financial Advisors LLC now owns 492 shares of the electric vehicle producer’s stock valued at $100,000 after buying an additional 237 shares during the period. 57.29% of the stock is owned by hedge funds and other institutional investors.

Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

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