Jefferies Group LLC lowered shares of Tesla Inc. (NASDAQ:TSLA) from an in-line rating to an underperform rating in a report published on Friday morning. Jefferies Group LLC currently has $240.00 target price on the electric vehicle producer’s stock, down from their prior target price of $312.00.
Several other brokerages have also commented on TSLA. Vetr lowered Tesla from a strong-buy rating to a buy rating and set a $385.74 price objective on the stock. in a research report on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) restated a sell rating and set a $180.00 price target (down from $190.00) on shares of Tesla in a research report on Wednesday, July 5th. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the stock a neutral rating in a research report on Wednesday, September 20th. Royal Bank Of Canada raised their price target on Tesla from $314.00 to $345.00 and gave the stock a sector perform rating in a research report on Thursday, August 3rd. Finally, Guggenheim restated a buy rating and set a $430.00 price target on shares of Tesla in a research report on Thursday, August 10th. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $332.78.
Shares of Tesla (NASDAQ TSLA) opened at 320.08 on Friday. The firm’s market capitalization is $53.42 billion. Tesla has a 52 week low of $178.19 and a 52 week high of $389.61. The stock’s 50 day moving average price is $351.81 and its 200-day moving average price is $341.57.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, beating the consensus estimate of ($2.00) by $0.67. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The company’s revenue was up 119.6% on a year-over-year basis. During the same period in the prior year, the company earned ($1.06) EPS. Equities analysts predict that Tesla will post ($6.67) earnings per share for the current year.
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In other Tesla news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $341.69, for a total value of $748,301.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Eric Branderiz sold 1,736 shares of Tesla stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total value of $589,354.64. Following the completion of the sale, the vice president now directly owns 1,736 shares of the company’s stock, valued at approximately $589,354.64. The disclosure for this sale can be found here. In the last three months, insiders sold 50,992 shares of company stock valued at $17,390,505. Corporate insiders own 23.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Pittenger & Anderson Inc. grew its holdings in shares of Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after acquiring an additional 50 shares during the period. Winfield Associates Inc. grew its holdings in shares of Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after acquiring an additional 150 shares during the period. Acropolis Investment Management LLC bought a new stake in shares of Tesla in the second quarter worth $122,000. North Star Investment Management Corp. grew its holdings in shares of Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after acquiring an additional 9 shares during the period. Finally, Carroll Financial Associates Inc. grew its holdings in shares of Tesla by 8.7% in the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock worth $126,000 after acquiring an additional 28 shares during the period. 56.45% of the stock is owned by institutional investors.
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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