Tesla Inc. (TSLA) Earns “Hold” Rating from KeyCorp

KeyCorp reiterated their hold rating on shares of Tesla Inc. (NASDAQ:TSLA) in a report issued on Friday morning.

TSLA has been the topic of a number of other research reports. Vetr raised Tesla from a buy rating to a strong-buy rating and set a $374.78 price target on the stock in a report on Thursday, July 27th. Jefferies Group LLC lowered shares of Tesla from an in-line rating to an underperform rating and lowered their price objective for the company from $312.00 to $240.00 in a research note on Friday, October 27th. Goldman Sachs Group, Inc. (The) reiterated a sell rating and set a $180.00 price objective (down previously from $190.00) on shares of Tesla in a research note on Monday, July 31st. Nomura reiterated a buy rating and set a $500.00 price objective on shares of Tesla in a research note on Tuesday, October 31st. Finally, Sanford C. Bernstein set a $265.00 price objective on shares of Tesla and gave the company a neutral rating in a research note on Thursday, July 27th. Ten investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. Tesla currently has an average rating of Hold and an average target price of $330.44.

Shares of Tesla (NASDAQ:TSLA) opened at $302.99 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.60 and a debt-to-equity ratio of 1.66. Tesla has a twelve month low of $178.19 and a twelve month high of $389.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($3.09) by $0.17. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. equities analysts anticipate that Tesla will post -11.38 earnings per share for the current year.

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In related news, VP Eric Branderiz sold 99 shares of Tesla stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total value of $34,661.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen T. Jurvetson sold 44,777 shares of Tesla stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the completion of the sale, the director now directly owns 36,111 shares of the company’s stock, valued at approximately $12,290,739.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,782 shares of company stock valued at $18,294,800. 23.10% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in TSLA. Vanguard Group Inc. lifted its position in Tesla by 4.9% during 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 acquiring an additional 292,602 shares during the last quarter. Whale Rock Capital Management LLC acquired a new position in Tesla during the 2nd quarter worth $66,601,000. Jasper Ridge Partners L.P. lifted its position in Tesla by 7,001.5% during the 2nd quarter. Jasper Ridge Partners L.P. now owns 161,276 shares of the electric vehicle producer’s stock worth $58,319,000 after acquiring an additional 159,005 shares during the last quarter. Quantitative Investment Management LLC acquired a new position in Tesla during the 2nd quarter worth $52,108,000. Finally, Janus Henderson Group PLC lifted its position in Tesla by 131.8% during the 2nd quarter. Janus Henderson Group PLC now owns 241,476 shares of the electric vehicle producer’s stock worth $87,329,000 after acquiring an additional 137,318 shares during the last quarter. 56.52% 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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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