Tesla (NASDAQ:TSLA) Given Buy Rating at Canaccord Genuity Group

Tesla (NASDAQ:TSLA - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Canaccord Genuity Group in a report issued on Monday,Benzinga reports. They presently have a $303.00 price objective on the electric vehicle producer's stock. Canaccord Genuity Group's price objective indicates a potential downside of 5.37% from the company's previous close.

Several other brokerages also recently issued reports on TSLA. Roth Mkm reduced their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Royal Bank Of Canada cut 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. Glj Research restated a "sell" rating and issued a $19.05 price objective (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Finally, Wedbush reiterated an "outperform" rating and set a $500.00 target price on shares of Tesla in a research report on Friday, June 20th. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of "Hold" and an average price target of $298.37.

Tesla Price Performance

Tesla stock traded down $3.43 during mid-day trading on Monday, hitting $320.20. 22,917,337 shares of the company were exchanged, compared to its average volume of 101,677,050. The company has a market capitalization of $1.03 trillion, a PE ratio of 175.78, a price-to-earnings-growth ratio of 12.20 and a beta of 2.47. The business has a fifty day moving average of $314.93 and a 200 day moving average of $329.21. Tesla has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the firm posted $0.45 EPS. As a group, sell-side analysts expect that Tesla will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 1,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the chief financial officer now owns 1,950 shares of the company's stock, valued at $682,500. This represents a 33.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 over the last three months. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Hedge funds have recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC lifted its stake in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank grew its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC increased its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new stake in Tesla during the first quarter valued at $27,000. Finally, True Wealth Design LLC grew its position in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares in the last quarter. 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.

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