A number of other equities analysts have also recently weighed in on the company. Vetr raised Tesla from a strong sell rating to a sell rating and set a $320.97 price target on the stock in a research note on Friday, October 13th. Goldman Sachs Group, Inc. (The) reissued a sell rating and issued a $180.00 price target (down previously from $190.00) on shares of Tesla in a research note on Wednesday, July 5th. Citigroup Inc. started coverage on Tesla in a research note on Thursday, July 20th. They issued a neutral rating and a $357.00 price target on the stock. Morgan Stanley reissued a hold rating and issued a $317.00 price target on shares of Tesla in a research note on Thursday, September 7th. Finally, Sanford C. Bernstein reissued a market perform rating and issued a $265.00 price target on shares of Tesla in a research note on Tuesday, October 3rd. Ten investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. Tesla currently has a consensus rating of Hold and an average target price of $332.78.
Shares of Tesla (NASDAQ:TSLA) traded down 1.62% during midday trading on Wednesday, reaching $320.87. 6,979,704 shares of the company were exchanged. The company’s market capitalization is $53.55 billion. The firm’s 50 day moving average is $352.46 and its 200-day moving average is $340.90. Tesla has a 52-week low of $178.19 and a 52-week high of $389.61.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping the consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the business earned ($1.06) earnings per share. Tesla’s revenue for the quarter was up 119.6% compared to the same quarter last year. On average, equities analysts forecast that Tesla will post ($6.63) earnings per share for the current fiscal year.
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In related news, Director Stephen T. Jurvetson sold 44,777 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the completion of the transaction, the director now directly owns 36,111 shares in the company, valued at $12,290,739.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Eric Branderiz sold 1,736 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total value of $589,354.64. Following the transaction, the vice president now owns 1,736 shares of the company’s stock, valued at $589,354.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,182 shares of company stock worth $18,094,284. 23.10% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of TSLA. Vanguard Group Inc. grew its holdings in shares of Tesla by 4.9% during the second 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 in the last quarter. Whale Rock Capital Management LLC bought a new position in shares of Tesla during the second quarter worth about $66,601,000. Jasper Ridge Partners L.P. grew its holdings in shares of Tesla by 7,001.5% during the second quarter. Jasper Ridge Partners L.P. now owns 161,276 shares of the electric vehicle producer’s stock worth $58,319,000 after buying an additional 159,005 shares in the last quarter. Quantitative Investment Management LLC bought a new position in shares of Tesla during the second quarter worth about $52,108,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Tesla by 131.8% during the second quarter. Janus Henderson Group PLC now owns 241,476 shares of the electric vehicle producer’s stock worth $87,329,000 after buying an additional 137,318 shares in the last quarter. Institutional investors and hedge funds own 56.64% 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.
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