Tesla (NASDAQ:TSLA) Given Outperform Rating at Wedbush

Tesla (NASDAQ:TSLA - Get Free Report)'s stock had its "outperform" rating restated by investment analysts at Wedbush in a note issued to investors on Friday,Benzinga reports. They currently have a $500.00 price objective on the electric vehicle producer's stock. Wedbush's price objective points to a potential upside of 55.26% from the company's current price.

Several other brokerages also recently commented on TSLA. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Cantor Fitzgerald decreased their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Morgan Stanley reiterated an "overweight" rating and set a $410.00 target price on shares of Tesla in a report on Friday, June 6th. 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. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $293.67.

Tesla Stock Performance

TSLA stock opened at $322.05 on Friday. Tesla has a twelve month low of $179.66 and a twelve month 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. The company has a market cap of $1.04 trillion, a P/E ratio of 176.95, a price-to-earnings-growth ratio of 12.04 and a beta of 2.47. The business's fifty day moving average is $304.81 and its 200-day moving average is $332.35.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results 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 analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the company posted $0.45 EPS. Equities research analysts forecast that Tesla will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 over the last ninety days. Insiders own 20.70% of the company's stock.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vista Capital Partners Inc. increased its stake in Tesla by 1.4% during the 4th quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer's stock worth $795,000 after acquiring an additional 27 shares during the period. Blackston Financial Advisory Group LLC increased its position in shares of Tesla by 1.3% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer's stock worth $875,000 after purchasing an additional 27 shares during the period. Kooman & Associates raised its stake in Tesla by 2.4% in the fourth quarter. Kooman & Associates now owns 1,188 shares of the electric vehicle producer's stock valued at $480,000 after purchasing an additional 28 shares in the last quarter. Rinkey Investments lifted its position in Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after purchasing an additional 29 shares during the period. Finally, New England Capital Financial Advisors LLC grew its stake in Tesla by 2.6% during the fourth quarter. New England Capital Financial Advisors LLC now owns 1,195 shares of the electric vehicle producer's stock worth $483,000 after buying an additional 30 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.