Tesla (NASDAQ:TSLA) Stock Rating Reaffirmed by Guggenheim

Tesla (NASDAQ:TSLA - Get Free Report)'s stock had its "sell" rating restated by stock analysts at Guggenheim in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $122.00 price objective on the electric vehicle producer's stock. Guggenheim's price objective indicates a potential downside of 15.68% from the company's current price.

Other equities research analysts have also issued reports about the stock. Piper Sandler restated an "overweight" rating and issued a $205.00 price objective on shares of Tesla in a report on Monday. KGI Securities restated a "neutral" rating and issued a $213.00 price objective (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Morgan Stanley reduced their price objective 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. TD Cowen reduced their price objective on shares of Tesla from $200.00 to $180.00 and set a "market perform" rating on the stock in a report on Thursday, January 25th. Finally, Citigroup cut their price target on shares of Tesla from $196.00 to $180.00 and set a "neutral" rating on the stock in a research note on Friday, April 12th. Eight research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $194.33.

Tesla Stock Up 1.9 %

Tesla stock traded up $2.63 during mid-day trading on Tuesday, reaching $144.68. 119,642,343 shares of the company's stock were exchanged, compared to its average volume of 101,872,688. The company has a market cap of $460.78 billion, a P/E ratio of 33.81, a P/E/G ratio of 3.89 and a beta of 2.40. Tesla has a twelve month low of $138.80 and a twelve month high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average of $177.59 and a 200-day moving average of $210.05.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. Tesla's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 earnings per share. Sell-side analysts expect that Tesla will post 1.97 EPS for the current year.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of the firm's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Xiaotong Zhu sold 687 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares of the company's stock, valued at $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares of the company's stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 over the last quarter. Corporate insiders own 20.90% of the company's stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors have recently modified their holdings of TSLA. Opal Wealth Advisors LLC grew its holdings in Tesla by 1.0% in the third quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer's stock valued at $1,089,000 after purchasing an additional 42 shares during the period. Holderness Investments Co. grew its holdings in Tesla by 1.6% in the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer's stock valued at $650,000 after purchasing an additional 42 shares during the period. Wagner Wealth Management LLC grew its stake in Tesla by 1.3% during the third quarter. Wagner Wealth Management LLC now owns 3,384 shares of the electric vehicle producer's stock worth $847,000 after buying an additional 44 shares during the period. SCS Capital Management LLC grew its stake in Tesla by 0.3% during the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer's stock worth $4,224,000 after buying an additional 45 shares during the period. Finally, Daymark Wealth Partners LLC grew its stake in Tesla by 0.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer's stock worth $2,622,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

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.