Several other equities research analysts also recently weighed in on TSLA. Vetr downgraded Tesla from a buy rating to a hold rating and set a $371.10 price target on the stock. in a report on Wednesday, August 9th. Robert W. Baird reiterated an outperform rating and issued a $411.00 price target (up from $368.00) on shares of Tesla in a report on Monday, August 14th. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the stock a hold rating in a report on Monday, November 13th. Guggenheim restated a buy rating and set a $430.00 price objective on shares of Tesla in a report on Thursday, August 10th. Finally, Royal Bank Of Canada raised their price objective on Tesla from $314.00 to $345.00 and gave the stock a sector perform rating in a report on Thursday, August 3rd. Ten investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $330.28.
Shares of Tesla (NASDAQ TSLA) traded up $2.55 during midday trading on Thursday, hitting $315.05. The stock had a trading volume of 13,682,753 shares, compared to its average volume of 6,723,802. 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 has a 12-month low of $180.00 and a 12-month high of $389.61.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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 return on equity of 24.88% and a negative net margin of 13.09%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. equities research analysts anticipate that Tesla will post -11.38 earnings per share for the current year.
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In other Tesla news, VP Eric Branderiz sold 99 shares of Tesla stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total transaction of $34,661.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen T. Jurvetson sold 44,777 shares of Tesla stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total value of $15,240,299.72. Following the transaction, the director now owns 36,111 shares of the company’s stock, valued at approximately $12,290,739.96. The disclosure for this sale can be found here. Insiders have sold a total of 55,518 shares of company stock valued at $18,819,611 in the last quarter. Company insiders own 23.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Garde Capital Inc. raised its stake in shares of Tesla by 9.6% during the 3rd quarter. Garde Capital Inc. now owns 3,152 shares of the electric vehicle producer’s stock valued at $1,075,000 after buying an additional 275 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Tesla during the 3rd quarter valued at about $245,000. Cetera Advisors LLC raised its stake in shares of Tesla by 6.2% during the 3rd quarter. Cetera Advisors LLC now owns 4,399 shares of the electric vehicle producer’s stock valued at $1,502,000 after buying an additional 258 shares during the last quarter. IFM Investors Pty Ltd purchased a new position in shares of Tesla in the 3rd quarter valued at about $1,254,000. Finally, Independent Advisor Alliance increased its stake in shares of Tesla by 31.7% in the 3rd quarter. Independent Advisor Alliance now owns 901 shares of the electric vehicle producer’s stock valued at $309,000 after purchasing an additional 217 shares in the last quarter. Institutional investors and hedge funds own 56.36% of the company’s stock.
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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