Tesla (NASDAQ:TSLA) Rating Reiterated by Glj Research

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating restated by Glj Research in a research note issued to investors on Thursday, Benzinga reports. They presently have a $24.86 price target on the electric vehicle producer’s stock. Glj Research’s target price would suggest a potential downside of 88.74% from the stock’s previous close.

A number of other analysts also recently issued reports on TSLA. Royal Bank of Canada lifted their price target on Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Stifel Nicolaus assumed coverage on Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Friday, October 11th. Finally, Morgan Stanley restated an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $210.72.

Tesla Stock Down 0.1 %

TSLA stock opened at $220.70 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $703.86 billion, a PE ratio of 56.30, a PEG ratio of 5.94 and a beta of 2.29. Tesla has a twelve month low of $138.80 and a twelve month high of $271.00. The stock has a 50-day simple moving average of $227.67 and a two-hundred day simple moving average of $205.12.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. On average, equities analysts predict that Tesla will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 over the last ninety days. Company insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC lifted its holdings in shares of Tesla by 2.6% during the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after purchasing an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Tesla by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after purchasing an additional 412,872 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.