Tesla Inc. (TSLA) Bonds Trading 1.8% Higher

An issue of Tesla Inc. (NASDAQ:TSLA) bonds rose 1.8% as a percentage of their face value during trading on Friday. The high-yield issue of debt has a 5.3% coupon and is set to mature on August 15, 2025. The bonds in the issue are now trading at $97.00 and were trading at $94.00 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.

TSLA has been the topic of a number of recent research reports. Citigroup Inc. initiated coverage on Tesla in a report on Thursday, July 20th. They set a “neutral” rating and a $357.00 price objective on the stock. Vetr downgraded Tesla from a “strong-buy” rating to a “buy” rating and set a $371.27 price objective on the stock. in a report on Monday, July 24th. UBS AG reaffirmed a “sell” rating and set a $185.00 price objective on shares of Tesla in a report on Wednesday, July 26th. Robert W. Baird reissued an “outperform” rating and issued a $368.00 target price on shares of Tesla in a report on Wednesday, July 26th. Finally, Sanford C. Bernstein set a $265.00 target price on Tesla and gave the stock a “neutral” rating in a report on Thursday, July 27th. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $330.28.

Shares of Tesla Inc. (NASDAQ TSLA) traded up $2.55 during trading on Friday, reaching $315.05. 13,727,536 shares of the company’s stock were exchanged, compared to its average volume of 6,429,817. Tesla Inc. has a 1 year low of $180.00 and a 1 year high of $389.61. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 1.66.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.09) by $0.17. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the business posted $0.71 earnings per share. The company’s quarterly revenue was up 29.9% on a year-over-year basis. equities analysts anticipate that Tesla Inc. will post -11.38 EPS for the current fiscal year.

In other news, 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 transaction, the director now owns 36,111 shares in the company, valued at $12,290,739.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Eric Branderiz sold 99 shares of Tesla stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total transaction of $34,661.88. The disclosure for this sale can be found here. Insiders sold 55,518 shares of company stock worth $18,819,611 in the last 90 days. Company insiders own 23.10% of the company’s stock.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Tesla by 4.9% during the second 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 period. Capital World Investors raised its stake in Tesla by 0.6% during the second quarter. Capital World Investors now owns 3,016,552 shares of the electric vehicle producer’s stock worth $1,090,815,000 after buying an additional 17,452 shares during the last quarter. Jennison Associates LLC raised its stake in Tesla by 4.3% during the second quarter. Jennison Associates LLC now owns 3,002,685 shares of the electric vehicle producer’s stock worth $1,085,801,000 after buying an additional 124,511 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in Tesla by 0.4% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 692,792 shares of the electric vehicle producer’s stock worth $250,521,000 after buying an additional 2,754 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Tesla by 126.6% during the third quarter. Janus Henderson Group PLC now owns 547,072 shares of the electric vehicle producer’s stock worth $186,601,000 after buying an additional 305,596 shares during the last quarter. Institutional investors own 56.36% of the company’s stock.

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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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