Tesla (NASDAQ:TSLA) Rating Reiterated by Oppenheimer

Tesla (NASDAQ:TSLA)‘s stock had its “market perform” rating reiterated by equities research analysts at Oppenheimer in a note issued to investors on Tuesday, Benzinga reports.

A number of other equities analysts have also recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price on the stock. Evercore ISI cut their target price on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, April 29th. Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Wednesday, April 24th. Royal Bank of Canada dropped their price target on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Finally, Jefferies Financial Group dropped their price target on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Seven research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $195.39.

Tesla Stock Performance

Shares of TSLA stock opened at $263.26 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla has a one year low of $138.80 and a one year high of $299.29. The company’s 50-day simple moving average is $190.19 and its 200-day simple moving average is $191.41. The stock has a market capitalization of $839.59 billion, a price-to-earnings ratio of 67.16, a PEG ratio of 6.27 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Equities analysts anticipate that Tesla will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently modified their holdings of TSLA. Norges Bank acquired a new stake in shares of Tesla during the 4th quarter valued at $7,844,757,000. International Assets Investment Management LLC raised its holdings in Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after acquiring an additional 6,179,032 shares during the period. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.