Tesla’s (TSLA) Underweight Rating Reiterated at Barclays PLC

Barclays PLC restated their underweight rating on shares of Tesla Inc. (NASDAQ:TSLA) in a research note issued to investors on Wednesday morning, Marketbeat reports. They currently have a $210.00 target price on the electric vehicle producer’s stock, up from their previous target price of $165.00.

A number of other equities analysts have also recently weighed in on TSLA. Vetr raised Tesla from a buy rating to a strong-buy rating and set a $374.78 price objective on the stock in a report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) reissued a sell rating and set a $180.00 price objective (down from $190.00) on shares of Tesla in a report on Monday, July 31st. Sanford C. Bernstein set a $265.00 price objective on Tesla and gave the company a neutral rating in a report on Thursday, July 27th. Royal Bank Of Canada reissued a sector perform rating and set a $314.00 price objective on shares of Tesla in a report on Thursday, May 25th. Finally, Robert W. Baird reissued an outperform rating and set a $368.00 price objective on shares of Tesla in a report on Thursday, August 3rd. Eight analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $315.31.

Tesla (NASDAQ:TSLA) opened at 379.81 on Wednesday. Tesla has a 52 week low of $178.19 and a 52 week high of $386.99. The firm’s 50-day moving average price is $352.07 and its 200 day moving average price is $323.07. The firm’s market cap is $63.39 billion.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating the consensus estimate of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the firm posted ($1.06) EPS. The company’s revenue was up 119.6% compared to the same quarter last year. Equities analysts forecast that Tesla will post ($6.26) earnings per share for the current fiscal year.

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In other news, VP Eric Branderiz sold 99 shares of Tesla stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total value of $34,661.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen T. Jurvetson sold 44,777 shares of Tesla stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total value of $15,240,299.72. Following the completion of the sale, the director now owns 36,111 shares in the company, valued at $12,290,739.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,946 shares of company stock worth $18,481,047. Corporate insiders own 23.10% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. FMR LLC grew its position in shares of Tesla by 10.9% in the 1st quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock worth $6,804,556,000 after buying an additional 2,400,034 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of Tesla by 2.5% in the 1st quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock worth $3,792,025,000 after buying an additional 336,130 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Tesla by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock worth $2,251,890,000 after buying an additional 292,602 shares during the last quarter. Capital World Investors grew its position in shares of Tesla by 0.6% in the 2nd quarter. Capital World Investors now owns 3,016,552 shares of the electric vehicle producer’s stock worth $1,090,815,000 after buying an additional 17,452 shares during the last quarter. Finally, Jennison Associates LLC grew its position in shares of Tesla by 4.3% in the 2nd quarter. Jennison Associates LLC now owns 3,002,685 shares of the electric vehicle producer’s stock worth $1,085,801,000 after buying an additional 124,511 shares during the last quarter. Hedge funds and other institutional investors own 56.67% of the company’s stock.

About Tesla

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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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