Tesla (NASDAQ:TSLA) Given "Overweight" Rating at Piper Sandler

Piper Sandler restated their overweight rating on shares of Tesla (NASDAQ:TSLA - Free Report) in a report published on Monday morning, Benzinga reports. They currently have a $205.00 target price on the electric vehicle producer's stock.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley lowered their price target on shares of Tesla from $320.00 to $310.00 and set an overweight rating on the stock in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft downgraded Tesla from a buy rating to a hold rating and lowered their price objective for the company from $189.00 to $123.00 in a research report on Thursday. Wells Fargo & Company cut their target price on Tesla from $125.00 to $120.00 and set an underweight rating for the company in a research report on Friday, April 12th. Robert W. Baird reaffirmed an outperform rating and set a $280.00 price objective on shares of Tesla in a report on Wednesday, April 17th. Finally, Jefferies Financial Group dropped their target price on shares of Tesla from $185.00 to $165.00 and set a hold rating for the company in a research report on Wednesday, April 10th. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Tesla has an average rating of Hold and an average price target of $194.70.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $5.00 during trading on Monday, reaching $142.05. 106,716,266 shares of the company traded hands, compared to its average volume of 101,720,281. The firm has a 50 day simple moving average of $177.59 and a 200-day simple moving average of $210.05. The stock has a market capitalization of $452.40 billion, a PE ratio of 32.96, a P/E/G ratio of 3.89 and a beta of 2.39. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm had revenue of $25.17 billion during the quarter, compared to analysts' expectations of $25.64 billion. During the same period in the previous year, the business posted $1.07 earnings per share. The company's revenue for the quarter was up 3.5% on a year-over-year basis. Equities research analysts anticipate that Tesla will post 1.97 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now owns 15,000 shares of the company's stock, valued at approximately $2,631,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares of the company's stock, valued at $2,631,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the company's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company's stock, valued at $5,502,726. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mount Vernon Associates Inc. MD raised its stake in Tesla by 5.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer's stock worth $1,724,000 after acquiring an additional 350 shares during the last quarter. Oak Ridge Investments LLC increased its holdings in shares of Tesla by 4.6% in the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer's stock valued at $8,065,000 after purchasing an additional 1,405 shares during the last quarter. Corient Private Wealth LLC lifted its position in Tesla by 3.7% during the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer's stock worth $182,352,000 after buying an additional 25,943 shares in the last quarter. J.W. Cole Advisors Inc. boosted its stake in Tesla by 16.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer's stock worth $11,533,000 after buying an additional 6,615 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Tesla by 11.8% in the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer's stock valued at $193,935,000 after buying an additional 81,729 shares in the last quarter. Hedge funds and other institutional investors 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.