Tesla Inc (NASDAQ:TSLA)‘s stock had its “outperform” rating reissued by equities research analysts at Evercore ISI in a research note issued to investors on Monday, May 8th. They currently have a $330.00 price objective on the electric vehicle producer’s stock. Evercore ISI’s price objective would indicate a potential upside of 5.41% from the company’s previous close.
A number of other equities analysts also recently weighed in on TSLA. Pacific Crest reaffirmed a “market perform” rating on shares of Tesla in a research note on Friday, May 5th. JPMorgan Chase & Co. lifted their price target on shares of Tesla from $185.00 to $190.00 and gave the stock an “underweight” rating in a research report on Monday, May 8th. Sanford C. Bernstein reiterated a “market perform” rating and set a $250.00 price target on shares of Tesla in a research report on Friday, May 5th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Tesla in a research report on Friday, February 24th. Finally, Zacks Investment Research upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Tuesday, February 28th. Eight research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $274.06.
Shares of Tesla (NASDAQ:TSLA) traded down 0.71% on Monday, hitting $310.83. The company had a trading volume of 4,686,927 shares. Tesla has a 12 month low of $178.19 and a 12 month high of $327.66. The stock’s market cap is $51.06 billion. The company has a 50-day moving average of $307.34 and a 200 day moving average of $248.67.
Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $1.30. Tesla had a negative return on equity of 29.17% and a negative net margin of 14.74%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.56 billion. Analysts anticipate that Tesla will post ($5.55) EPS for the current fiscal year.
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In other Tesla news, insider Jeffrey B. Straubel sold 109,100 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $307.81, for a total transaction of $33,582,071.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Elon Musk purchased 95,420 shares of the stock in a transaction on Friday, March 17th. The shares were purchased at an average price of $262.00 per share, with a total value of $25,000,040.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 242,791 shares of company stock valued at $74,745,344. Company insiders own 27.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 period. Comerica Bank increased its stake 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 period. Perigon Wealth Management LLC increased its stake in shares of Tesla by 4.5% in the fourth quarter. Perigon Wealth Management LLC now owns 7,951 shares of the electric vehicle producer’s stock valued at $2,000,000 after buying an additional 341 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Tesla by 578.7% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 281,004 shares of the electric vehicle producer’s stock valued at $57,333,000 after buying an additional 239,600 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Tesla by 9.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 290,524 shares of the electric vehicle producer’s stock valued at $62,082,000 after buying an additional 25,012 shares during the period. 57.29% of the stock is owned by 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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