Tesla Inc. (TSLA) Upgraded at Argus

Argus upgraded shares of Tesla Inc. (NASDAQ:TSLA) from a hold rating to a buy rating in a research report report published on Tuesday morning, Marketbeat.com reports. Argus currently has $444.00 price objective on the electric vehicle producer’s stock, up from their prior price objective of $355.17.

A number of other equities analysts also recently weighed in on TSLA. Piper Jaffray Companies raised shares of Tesla from a neutral rating to an overweight rating and increased their price target for the stock from $223.00 to $368.00 in a research note on Monday, April 10th. Sanford C. Bernstein reaffirmed a market perform rating and set a $250.00 price target on shares of Tesla in a research note on Monday, April 10th. Robert W. Baird reaffirmed an outperform rating and set a $368.00 price target on shares of Tesla in a research note on Monday, April 17th. Guggenheim reaffirmed a buy rating and set a $320.00 price target on shares of Tesla in a research note on Wednesday, April 19th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a sell rating and set a $187.00 price target on shares of Tesla in a research note on Saturday, April 22nd. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $309.70.

Tesla (NASDAQ TSLA) opened at 357.87 on Tuesday. The stock’s market capitalization is $59.72 billion. Tesla has a 1-year low of $178.19 and a 1-year high of $386.99. The firm has a 50-day moving average of $341.13 and a 200-day moving average of $307.07.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.00) by $0.67. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. Tesla’s revenue was up 119.6% on a year-over-year basis. During the same quarter last year, the firm posted ($1.06) earnings per share. Equities research analysts anticipate that Tesla will post ($6.29) EPS for the current year.

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In related news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total value of $703,778.40. Following the sale, the director now directly owns 160,274 shares in the company, valued at approximately $51,505,652.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 23.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of TSLA. Dimensional Fund Advisors LP increased its stake in shares of Tesla by 26.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 96,896 shares of the electric vehicle producer’s stock valued at $20,707,000 after buying an additional 20,082 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Tesla by 22.1% in the fourth quarter. Macquarie Group Ltd. now owns 48,626 shares of the electric vehicle producer’s stock valued at $10,391,000 after buying an additional 8,800 shares in the last quarter. CENTRAL TRUST Co increased its stake in shares of Tesla by 14.8% in the first quarter. CENTRAL TRUST Co now owns 1,601 shares of the electric vehicle producer’s stock valued at $446,000 after buying an additional 206 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Tesla by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 39,718 shares of the electric vehicle producer’s stock valued at $11,053,000 after buying an additional 560 shares in the last quarter. Finally, National Pension Service increased its stake in shares of Tesla by 32.9% in the first quarter. National Pension Service now owns 101,985 shares of the electric vehicle producer’s stock valued at $28,344,000 after buying an additional 25,261 shares in the last quarter. Hedge funds and other institutional investors own 63.71% 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.

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