Free Trial

Tesla (NASDAQ:TSLA) Given "Overweight" Rating at Morgan Stanley

Tesla logo with Auto/Tires/Trucks background

Tesla (NASDAQ:TSLA - Get Free Report)'s stock had its "overweight" rating restated by investment analysts at Morgan Stanley in a report issued on Wednesday, Benzinga reports. They presently have a $310.00 price objective on the electric vehicle producer's stock. Morgan Stanley's price objective suggests a potential upside of 17.75% from the stock's current price.

A number of other research firms have also weighed in on TSLA. Wells Fargo & Company reaffirmed an "underweight" rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. TD Cowen upped their price target on Tesla from $160.00 to $180.00 and gave the stock a "hold" rating in a report on Wednesday, July 3rd. UBS Group decreased their price objective on Tesla from $160.00 to $147.00 and set a "neutral" rating for the company in a research note on Wednesday, April 24th. Roth Mkm restated a "neutral" rating and set a $85.00 target price on shares of Tesla in a research note on Wednesday, April 24th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Tesla from $130.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 3rd. Seven research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Tesla presently has an average rating of "Hold" and an average price target of $195.39.

Read Our Latest Report on Tesla


Tesla Trading Up 0.4 %

Tesla stock traded up $0.93 during midday trading on Wednesday, reaching $263.26. 127,980,891 shares of the stock traded hands, compared to its average volume of 98,692,945. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The firm has a market cap of $839.59 billion, a PE ratio of 67.16, a price-to-earnings-growth ratio of 6.27 and a beta of 2.31. The company has a 50-day simple moving average of $190.19 and a two-hundred day simple moving average of $191.41. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts' consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion during the quarter, compared to analysts' expectations of $22.15 billion. Research analysts expect that Tesla will post 1.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction 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 sale, the director now directly owns 15,000 shares of the company's stock, valued at $2,772,900. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The shares were 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 $2,772,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of Tesla 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 sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Csenge Advisory Group raised its position in Tesla by 1.6% during the second quarter. Csenge Advisory Group now owns 23,848 shares of the electric vehicle producer's stock worth $4,719,000 after acquiring an additional 376 shares during the last quarter. Legacy Financial Strategies LLC increased its stake in shares of Tesla by 24.2% during the 2nd quarter. Legacy Financial Strategies LLC now owns 3,530 shares of the electric vehicle producer's stock worth $699,000 after purchasing an additional 687 shares in the last quarter. Selective Wealth Management Inc. acquired a new position in shares of Tesla during the 2nd quarter worth approximately $209,000. Advocate Group LLC lifted its stake in Tesla by 6.5% in the 2nd quarter. Advocate Group LLC now owns 4,078 shares of the electric vehicle producer's stock valued at $807,000 after buying an additional 250 shares in the last quarter. Finally, LifePro Asset Management acquired a new stake in Tesla during the 2nd quarter valued at $2,889,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

About Tesla

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Tesla (NASDAQ:TSLA)

→ 625,000% Gain (From Crypto Swap Profits) (Ad)

Should you invest $1,000 in Tesla right now?

Before you consider Tesla, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tesla wasn't on the list.

While Tesla currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

5G Stocks: The Path Forward is Profitable Cover

Click the link below and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

CPI News Breakdown: Key Market Moves to Follow

CPI News Breakdown: Key Market Moves to Follow

Join us as we break down the latest CPI news, its effect on your favorite stocks, and the broader market. We also discuss how these economic indicators might lead to a potential interest rate cut by t

Recent Videos

Robotics Stock Rockets on NVIDIA Investment
How to Trade After Hours Like a Pro
Opportunities Arise as Stock Market Rotates from Big Tech

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines