Tesla (NASDAQ:TSLA) Earns Sell Rating from Glj Research

Tesla (NASDAQ:TSLA - Get Free Report)'s stock had its "sell" rating reiterated by stock analysts at Glj Research in a research report issued on Thursday,Benzinga reports.

Several other equities research analysts have also commented on the stock. Bank of America increased their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Benchmark reaffirmed a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Argus reissued a "hold" rating on shares of Tesla in a report on Monday, June 9th. Wedbush restated an "outperform" rating and set a $500.00 price objective on shares of Tesla in a research report on Tuesday, July 22nd. Finally, Royal Bank Of Canada decreased their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $303.31.

Tesla Trading Down 1.3%

TSLA traded down $4.39 during trading on Thursday, reaching $321.20. 86,527,013 shares of the stock traded hands, compared to its average volume of 108,313,508. The stock's 50-day moving average is $324.37 and its 200 day moving average is $313.04. Tesla has a 12 month low of $182.00 and a 12 month high of $488.54. The stock has a market capitalization of $1.03 trillion, a PE ratio of 185.66, a P/E/G ratio of 9.93 and a beta of 2.39. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the company posted $0.52 EPS. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. Equities analysts anticipate that Tesla will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director directly owned 85,000 shares in the company, valued at approximately $23,300,200. The trade was a 56.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 723,119 shares of company stock worth $247,324,149 in the last ninety days. Insiders own 20.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after acquiring an additional 1,655,203 shares during the last quarter. Norges Bank acquired a new position in shares of Tesla during the 4th quarter valued at about $14,420,248,000. FMR LLC increased its stake in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

About Tesla

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.