Vetr upgraded shares of Tesla Inc. (NASDAQ:TSLA) from a sell rating to a hold rating in a research note published on Tuesday, June 27th. The firm currently has $357.08 target price on the electric vehicle producer’s stock.
Other analysts have also recently issued research reports about the stock. UBS AG restated a sell rating and set a $160.00 target price on shares of Tesla in a report on Thursday, March 16th. Pacific Crest cut shares of Tesla to a hold rating in a report on Wednesday, April 5th. Argus reiterated a hold rating on shares of Tesla in a research note on Thursday, May 11th. Guggenheim reiterated a buy rating and issued a $320.00 price target on shares of Tesla in a research note on Wednesday, April 19th. Finally, ValuEngine upgraded shares of Tesla from a sell rating to a hold rating in a research note on Friday, June 2nd. Seven analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $301.70.
Tesla (TSLA) traded up 0.18% on Tuesday, reaching $335.07. 4,880,414 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $349.29 and its 200 day moving average price is $298.95. Tesla has a 12 month low of $178.19 and a 12 month high of $386.99. The company’s market cap is $55.04 billion.
Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $1.30. Tesla had a negative net margin of 8.46% and a negative return on equity of 17.13%. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.56 billion. On average, equities analysts expect that Tesla will post ($5.99) EPS for the current fiscal year.
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In related news, Director Kimbal Musk sold 4,690 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the sale, the director now owns 166,164 shares in the company, valued at approximately $61,095,179.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey B. Straubel sold 106,000 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $307.44, for a total value of $32,588,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 242,290 shares of company stock valued at $74,919,505 over the last quarter. Corporate insiders own 23.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Tesla by 10.9% in the first quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock valued at $6,804,556,000 after buying an additional 2,400,034 shares during the last quarter. Norges Bank bought a new stake in Tesla during the fourth quarter valued at $94,658,000. Renaissance Technologies LLC raised its stake in Tesla by 117.7% in the first quarter. Renaissance Technologies LLC now owns 677,792 shares of the electric vehicle producer’s stock valued at $188,630,000 after buying an additional 366,400 shares during the last quarter. Baillie Gifford & Co. raised its stake in Tesla by 2.5% in the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock valued at $3,792,025,000 after buying an additional 336,130 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Tesla by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock valued at $1,651,654,000 after buying an additional 280,941 shares during the last quarter. Institutional investors own 63.78% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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