Tesla Inc. (NASDAQ:TSLA) had its target price cut by Deutsche Bank AG from $320.00 to $310.00 in a research note issued to investors on Thursday. They currently have a hold rating on the electric vehicle producer’s stock.
Other equities research analysts have also recently issued reports about the stock. Robert W. Baird reiterated an outperform rating and issued a $368.00 price objective on shares of Tesla in a report on Thursday, August 3rd. Argus raised shares of Tesla from a hold rating to a buy rating and upped their price objective for the company from $355.17 to $444.00 in a research report on Tuesday, August 8th. Vetr lowered shares of Tesla from a strong-buy rating to a buy rating and set a $358.85 price objective for the company. in a research report on Tuesday, July 11th. Barclays PLC reissued a sell rating on shares of Tesla in a research note on Sunday, October 15th. Finally, Royal Bank Of Canada lowered their target price on shares of Tesla from $345.00 to $340.00 and set a sector perform rating on the stock in a research note on Thursday. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $330.44.
Shares of Tesla (NASDAQ TSLA) traded down $14.99 during trading hours on Thursday, reaching $306.09. The company had a trading volume of 8,835,157 shares, compared to its average volume of 6,175,498. The company has a current ratio of 0.97, a quick ratio of 0.60 and a debt-to-equity ratio of 1.15.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, topping the consensus estimate of ($3.09) by $0.17. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.80%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the company posted $0.71 EPS. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. analysts expect that Tesla will post -9.53 EPS for the current year.
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In related news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $330.29, for a total value of $723,335.10. Following the sale, the director now owns 154,419 shares in the company, valued at $51,003,051.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen T. Jurvetson sold 44,777 shares of Tesla stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the completion of the sale, the director now owns 36,111 shares in the company, valued at approximately $12,290,739.96. The disclosure for this sale can be found here. Insiders have sold 53,182 shares of company stock worth $18,113,840 over the last three months. Insiders own 23.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of TSLA. Vanguard Group Inc. raised its position in shares of Tesla by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock worth $2,251,890,000 after purchasing an additional 292,602 shares during the last quarter. Whale Rock Capital Management LLC bought a new stake in shares of Tesla during the 2nd quarter valued at about $66,601,000. Jasper Ridge Partners L.P. grew its stake in shares of Tesla by 7,001.5% during the 2nd quarter. Jasper Ridge Partners L.P. now owns 161,276 shares of the electric vehicle producer’s stock valued at $58,319,000 after acquiring an additional 159,005 shares during the period. Quantitative Investment Management LLC bought a new position in shares of Tesla during the 2nd quarter valued at approximately $52,108,000. Finally, Janus Henderson Group PLC grew its stake in shares of Tesla by 131.8% during the 2nd quarter. Janus Henderson Group PLC now owns 241,476 shares of the electric vehicle producer’s stock valued at $87,329,000 after acquiring an additional 137,318 shares during the period. 56.45% of the stock is owned by hedge funds and other 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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