Tesla Inc. (NASDAQ:TSLA)‘s stock had its “hold” rating reiterated by equities researchers at Deutsche Bank AG in a research note issued to investors on Wednesday, August 9th. They presently have a $240.00 price objective on the electric vehicle producer’s stock. Deutsche Bank AG’s price objective would suggest a potential downside of 30.93% from the company’s current price.
TSLA has been the subject of a number of other research reports. Berenberg Bank upgraded Tesla from a “hold” rating to a “buy” rating and upped their price target for the stock from $193.00 to $464.00 in a report on Tuesday, June 13th. Robert W. Baird restated an “outperform” rating and issued a $368.00 price target on shares of Tesla in a report on Tuesday, June 20th. Argus upgraded Tesla from a “hold” rating to a “buy” rating and upped their price target for the stock from $355.17 to $444.00 in a report on Tuesday, August 8th. Vetr cut Tesla from a “strong-buy” rating to a “buy” rating and set a $358.85 price target for the company. in a report on Tuesday, July 11th. Finally, Guggenheim upped their price target on Tesla from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Eight equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $310.84.
Shares of Tesla (TSLA) traded down 1.27% during mid-day trading on Wednesday, reaching $347.46. 5,408,183 shares of the company traded hands. The company’s market capitalization is $57.99 billion. The firm’s 50 day moving average price is $339.22 and its 200-day moving average price is $310.81. Tesla has a 52-week low of $178.19 and a 52-week high of $386.99.
Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.00) by $0.67. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. Tesla’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.06) EPS. Equities analysts predict that Tesla will post ($6.18) earnings per share for the current fiscal year.
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In related news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total value of $703,778.40. Following the completion of the sale, the director now directly owns 160,274 shares of the company’s stock, valued at approximately $51,505,652.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 23.10% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in TSLA. FMR LLC increased its stake in shares of Tesla by 10.9% in the first quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock valued at $6,804,556,000 after buying an additional 2,400,034 shares in the last quarter. Renaissance Technologies LLC increased its stake in Tesla by 117.7% in the first quarter. Renaissance Technologies LLC now owns 677,792 shares of the electric vehicle producer’s stock worth $188,630,000 after buying an additional 366,400 shares during the period. Baillie Gifford & Co. increased its stake in Tesla by 2.5% in the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock worth $3,792,025,000 after buying an additional 336,130 shares during the period. Vanguard Group Inc. increased its stake in Tesla by 4.9% in 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 buying an additional 292,602 shares during the period. Finally, Jennison Associates LLC increased its stake in Tesla by 7.6% in the first quarter. Jennison Associates LLC now owns 2,869,480 shares of the electric vehicle producer’s stock worth $798,576,000 after buying an additional 203,034 shares during the period. 62.92% of the stock is owned by hedge funds and other institutional investors.
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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