Tesla Inc. (TSLA) Stock Rating Reaffirmed by J P Morgan Chase & Co

Tesla Inc. (NASDAQ:TSLA)‘s stock had its “underweight” rating reiterated by stock analysts at J P Morgan Chase & Co in a research report issued to clients and investors on Thursday. They currently have a $185.00 target price on the electric vehicle producer’s stock. J P Morgan Chase & Co’s price objective suggests a potential downside of 44.20% from the company’s current price.

A number of other analysts have also weighed in on the stock. Vetr upgraded shares of Tesla from a “strong sell” rating to a “sell” rating and set a $320.97 target price on the stock in a research note on Friday, October 13th. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $180.00 target price (down from $190.00) on shares of Tesla in a research note on Wednesday, July 5th. Citigroup Inc. initiated coverage on shares of Tesla in a research note on Thursday, July 20th. They set a “neutral” rating and a $357.00 target price on the stock. Morgan Stanley restated a “hold” rating and set a $317.00 target price on shares of Tesla in a research note on Thursday, September 7th. Finally, Robert W. Baird restated an “outperform” rating and set a $368.00 target price on shares of Tesla in a research note on Wednesday, July 5th. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $332.18.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.22) by ($0.70). Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was up 29.9% on a year-over-year basis.

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In other Tesla news, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $355.20, for a total value of $777,888.00. Following the completion of the sale, the director now owns 158,584 shares of the company’s stock, valued at $56,329,036.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Eric Branderiz sold 1,736 shares of the firm’s stock in a transaction on Tuesday, October 24th. The shares were 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. 23.10% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Pittenger & Anderson Inc. increased its position 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 valued at $108,000 after buying an additional 50 shares in the last quarter. Winfield Associates Inc. increased its position 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 valued at $118,000 after buying an additional 150 shares in the last quarter. Acropolis Investment Management LLC purchased a new position in shares of Tesla in the second quarter valued at $122,000. North Star Investment Management Corp. increased its position 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 valued at $122,000 after buying an additional 9 shares in the last quarter. Finally, Carroll Financial Associates Inc. increased its position 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 valued at $126,000 after buying an additional 28 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

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.

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