Tesla Inc. (NASDAQ:TSLA)‘s stock had its “buy” rating restated by Nomura in a report released on Tuesday. They presently have a $500.00 price target on the electric vehicle producer’s stock. Nomura’s target price suggests a potential upside of 50.82% from the company’s current price.
TSLA has been the topic of several other reports. Robert W. Baird reaffirmed an “outperform” rating and issued a $368.00 price target on shares of Tesla in a research report on Thursday, August 3rd. Argus raised Tesla from a “hold” rating to a “buy” rating and lifted their price target for the stock from $355.17 to $444.00 in a research report on Tuesday, August 8th. Vetr downgraded Tesla from a “strong-buy” rating to a “buy” rating and set a $358.85 price target on the stock. in a research report on Tuesday, July 11th. Barclays PLC reaffirmed a “sell” rating on shares of Tesla in a research report on Sunday, October 15th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $180.00 price target (down from $190.00) on shares of Tesla in a research report on Monday, July 31st. Ten investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. Tesla presently has a consensus rating of “Hold” and a consensus target price of $332.78.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.22) by ($0.70). The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 earnings per share.
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In related news, Director Stephen T. Jurvetson sold 44,777 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Eric Branderiz sold 99 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total value of $34,661.88. The disclosure for this sale can be found here. Insiders have sold 50,992 shares of company stock worth $17,390,505 in the last ninety days. 23.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can increased its holdings in Tesla by 2.7% in the second quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock valued at $25,129,000 after purchasing an additional 1,802 shares during the last quarter. Main Street Research LLC bought a new stake in Tesla in the second quarter valued at about $602,000. CIBC World Markets Inc. increased its holdings in Tesla by 74.2% in the second quarter. CIBC World Markets Inc. now owns 10,575 shares of the electric vehicle producer’s stock valued at $3,824,000 after purchasing an additional 4,504 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Tesla in the second quarter valued at about $681,000. Finally, Aperio Group LLC increased its holdings in Tesla by 16.9% in the second quarter. Aperio Group LLC now owns 29,536 shares of the electric vehicle producer’s stock valued at $10,680,000 after purchasing an additional 4,274 shares during the last quarter. Institutional investors and hedge funds own 56.45% 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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