Vetr Inc. Upgrades Tesla Inc. (TSLA) to Sell

Tesla Inc. (NASDAQ:TSLA) was upgraded by analysts at Vetr from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday. The firm currently has a $282.88 target price on the electric vehicle producer’s stock. Vetr‘s price objective would indicate a potential downside of 5.47% from the company’s previous close.

A number of other research firms also recently commented on TSLA. Robert W. Baird reaffirmed an “outperform” rating and issued a $411.00 price target on shares of Tesla in a research note on Monday, September 18th. Jefferies Group LLC began coverage on Tesla in a research note on Tuesday, September 19th. They issued an “underperform” rating and a $280.00 price target for the company. They noted that the move was a valuation call. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the company a “neutral” rating in a research note on Wednesday, September 20th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $200.00 price target (up previously from $180.00) on shares of Tesla in a research note on Wednesday, August 9th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $345.00 price target (up previously from $314.00) on shares of Tesla in a research note on Wednesday, August 9th. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $331.40.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($3.09) by $0.17. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. Tesla’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share.

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In related news, VP Eric Branderiz sold 1,736 shares of the 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 transaction, the vice president now directly owns 1,736 shares in the company, valued at approximately $589,354.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen T. Jurvetson sold 44,777 shares of the stock in a transaction on 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 transaction, the director now owns 36,111 shares in the company, valued at $12,290,739.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,992 shares of company stock worth $17,390,505. 23.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Flagship Harbor Advisors LLC lifted its holdings in shares of Tesla by 0.4% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 987 shares of the electric vehicle producer’s stock worth $309,000 after purchasing an additional 4 shares in the last quarter. North Star Investment Management Corp. raised its position in Tesla by 2.8% in the 2nd 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 during the last quarter. Cornerstone Advisors Inc. raised its position in Tesla by 2.3% in the 2nd quarter. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer’s stock valued at $145,000 after buying an additional 9 shares during the last quarter. Sterling Investment Advisors Ltd. raised its position in Tesla by 2.2% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 853 shares of the electric vehicle producer’s stock valued at $308,000 after buying an additional 18 shares during the last quarter. Finally, Gemmer Asset Management LLC raised its position in Tesla by 2.6% in the 2nd quarter. Gemmer Asset Management LLC now owns 779 shares of the electric vehicle producer’s stock valued at $282,000 after buying an additional 20 shares during the last quarter. Institutional investors own 56.45% 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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