Tesla (TSLA) Cut to Hold at BidaskClub

BidaskClub downgraded shares of Tesla (NASDAQ:TSLA) from a buy rating to a hold rating in a report released on Saturday morning.

Several other research analysts also recently commented on TSLA. Zacks Investment Research downgraded Tesla from a buy rating to a hold rating in a report on Tuesday, August 7th. Sanford C. Bernstein reissued a neutral rating and issued a $325.00 target price on shares of Tesla in a report on Monday, September 10th. Canaccord Genuity set a $316.00 target price on Tesla and gave the stock a hold rating in a report on Tuesday, August 28th. Royal Bank of Canada reissued a neutral rating and issued a $315.00 target price on shares of Tesla in a report on Wednesday, August 8th. Finally, Evercore ISI set a $301.00 target price on Tesla and gave the stock a hold rating in a report on Wednesday, August 8th. Thirteen investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $314.63.

TSLA stock opened at $358.49 on Friday. Tesla has a 1-year low of $244.59 and a 1-year high of $387.46. The company has a market capitalization of $60.19 billion, a PE ratio of -31.23 and a beta of 0.59. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.47 and a current ratio of 0.81.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 24th. The electric vehicle producer reported $2.90 earnings per share for the quarter, beating the consensus estimate of ($1.77) by $4.67. Tesla had a negative return on equity of 34.27% and a negative net margin of 10.22%. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $5.67 billion. Analysts forecast that Tesla will post -5.09 earnings per share for the current year.

In other Tesla news, Director Kimbal Musk sold 1,875 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $306.00, for a total transaction of $573,750.00. Following the transaction, the director now owns 150,208 shares of the company’s stock, valued at approximately $45,963,648. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jerome M. Guillen sold 1,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $306.00, for a total value of $306,000.00. Following the transaction, the insider now directly owns 8,598 shares in the company, valued at approximately $2,630,988. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,375 shares of company stock worth $8,668,760. Company insiders own 22.80% of the company’s stock.

A number of large investors have recently bought and sold shares of TSLA. Vanguard Group Inc. lifted its stake in shares of Tesla by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,036,426 shares of the electric vehicle producer’s stock valued at $1,863,034,000 after purchasing an additional 59,018 shares during the period. Capital World Investors lifted its stake in shares of Tesla by 11.9% in the 3rd quarter. Capital World Investors now owns 6,817,290 shares of the electric vehicle producer’s stock valued at $1,805,014,000 after purchasing an additional 726,703 shares during the period. Jennison Associates LLC lifted its stake in shares of Tesla by 11.2% in the 3rd quarter. Jennison Associates LLC now owns 4,817,282 shares of the electric vehicle producer’s stock valued at $1,275,472,000 after purchasing an additional 485,095 shares during the period. Primecap Management Co. CA lifted its stake in shares of Tesla by 1.0% in the 3rd quarter. Primecap Management Co. CA now owns 1,106,015 shares of the electric vehicle producer’s stock valued at $292,840,000 after purchasing an additional 10,900 shares during the period. Finally, ARK Investment Management LLC lifted its stake in shares of Tesla by 68.2% in the 3rd quarter. ARK Investment Management LLC now owns 746,725 shares of the electric vehicle producer’s stock valued at $197,710,000 after purchasing an additional 302,851 shares during the period. 59.50% of the stock is currently owned by hedge funds and other institutional investors.

About Tesla

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The firm operates through Automotive, and Energy Generation and Storage segments.

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