Tesla (TSLA) Bonds Drop 1.6% During Trading

An issue of Tesla Inc (NASDAQ:TSLA) bonds fell 1.6% against their face value during trading on Friday. The high-yield debt issue has a 5.3% coupon and will mature on August 15, 2025. The debt is now trading at $87.75 and was trading at $88.25 last week. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its share price.

A number of research analysts have weighed in on the stock. Deutsche Bank assumed coverage on shares of Tesla in a research report on Thursday, December 13th. They set a “hold” rating on the stock. Wedbush assumed coverage on shares of Tesla in a research report on Thursday, December 13th. They set an “outperform” rating and a $440.00 price objective on the stock. Robert W. Baird reiterated an “outperform” rating and set a $465.00 price objective (up previously from $411.00) on shares of Tesla in a research report on Thursday, December 13th. They noted that the move was a valuation call. Wolfe Research boosted their price objective on shares of Tesla from $410.00 to $430.00 and gave the company an “outperform” rating in a research report on Thursday, December 6th. Finally, Jefferies Financial Group upgraded shares of Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the company from $360.00 to $450.00 in a research report on Friday, December 7th. Fourteen analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $328.46.

Shares of TSLA traded down $25.09 during mid-day trading on Friday, hitting $294.79. 22,844,991 shares of the company traded hands, compared to its average volume of 6,399,588. Tesla Inc has a 1-year low of $244.59 and a 1-year high of $387.46. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.47 and a current ratio of 0.83.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 30th. The electric vehicle producer reported $1.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.93. Tesla had a negative net margin of 4.55% and a negative return on equity of 18.50%. The firm had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter in the prior year, the company posted ($3.04) earnings per share. The company’s revenue for the quarter was up 119.8% compared to the same quarter last year. On average, analysts expect that Tesla Inc will post 1.79 EPS for the current year.

In related news, Director Antonio J. Gracias sold 8,390 shares of the stock in a transaction that occurred on Friday, December 21st. The shares were sold at an average price of $317.58, for a total value of $2,664,496.20. Following the transaction, the director now owns 24,332 shares in the company, valued at approximately $7,727,356.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jerome M. Guillen sold 1,000 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $360.28, for a total transaction of $360,280.00. Following the completion of the transaction, the insider now owns 8,598 shares in the company, valued at approximately $3,097,687.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,350 shares of company stock worth $29,879,096. Corporate insiders own 22.80% of the company’s stock.

A number of large investors have recently modified their holdings of TSLA. Capital World Investors increased its holdings in Tesla by 11.9% in the 3rd quarter. Capital World Investors now owns 6,817,290 shares of the electric vehicle producer’s stock worth $1,805,014,000 after buying an additional 726,703 shares during the period. Jennison Associates LLC boosted its position in Tesla by 10.5% in the 4th quarter. Jennison Associates LLC now owns 5,322,358 shares of the electric vehicle producer’s stock worth $1,771,281,000 after purchasing an additional 505,076 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in Tesla by 24,503.9% in the 3rd quarter. Rehmann Capital Advisory Group now owns 349,622 shares of the electric vehicle producer’s stock worth $40,684,000 after purchasing an additional 348,201 shares in the last quarter. ARK Investment Management LLC boosted its position in Tesla by 68.2% in the 3rd quarter. ARK Investment Management LLC now owns 746,725 shares of the electric vehicle producer’s stock worth $197,710,000 after purchasing an additional 302,851 shares in the last quarter. Finally, Optimus Prime Fund Management Co. Ltd. purchased a new stake in Tesla in the 4th quarter worth approximately $79,472,000. Institutional investors own 57.56% of the company’s stock.

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Tesla Company Profile (NASDAQ:TSLA)

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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