Tesla, Inc. (NASDAQ:TSLA) Receives Average Rating of "Hold" from Brokerages

Shares of Tesla, Inc. (NASDAQ:TSLA - Get Free Report) have received a consensus recommendation of "Hold" from the forty-two ratings firms that are currently covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $293.67.

Several brokerages have recently weighed in on TSLA. Oppenheimer reissued a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Bank of America lowered their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Barclays lowered their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Finally, Benchmark reaffirmed a "buy" rating and set a $350.00 price target on shares of Tesla in a research report on Wednesday, April 23rd.

Tesla Stock Performance

Shares of TSLA traded up $6.20 during trading hours on Thursday, hitting $325.31. The company had a trading volume of 128,417,075 shares, compared to its average volume of 100,760,864. The firm has a market cap of $1.05 trillion, a price-to-earnings ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47. The business has a fifty day moving average of $299.39 and a 200-day moving average of $332.88. Tesla has a 12 month low of $176.92 and a 12 month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the previous year, the company earned $0.45 earnings per share. Equities analysts anticipate that Tesla will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 1,000 shares of Tesla stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the chief financial officer now owns 1,950 shares in the company, valued at $682,500. The trade was a 33.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director now owns 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock worth $273,791,775 in the last quarter. 20.70% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Tesla by 1.5% during 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 boosted its holdings in 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 worth $24,566,217,000 after acquiring an additional 1,655,203 shares during the last quarter. Norges Bank purchased a new position in Tesla during the 4th quarter worth $14,420,248,000. FMR LLC boosted its holdings in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. 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.