Argus Reaffirms Hold Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA - Get Free Report)'s stock had its "hold" rating reissued by analysts at Argus in a report issued on Monday, MarketBeat reports.

TSLA has been the topic of several other reports. Guggenheim restated a "sell" rating and set a $170.00 target price on shares of Tesla in a research report on Thursday, April 24th. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research note on Monday. Cantor Fitzgerald lowered their target price 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. Glj Research restated a "sell" rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Finally, Truist Financial set a $280.00 price objective on shares of Tesla in a report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $294.27.

Tesla Trading Down 0.5%

Tesla stock traded down $1.39 during trading on Monday, reaching $293.75. 37,088,642 shares of the company were exchanged, compared to its average volume of 99,636,827. The stock's 50 day simple moving average is $292.17 and its two-hundred day simple moving average is $333.51. The company has a market capitalization of $946.17 billion, a P/E ratio of 143.87, a PEG ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla has a 52-week low of $167.41 and a 52-week high of $488.54.

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

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, 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 filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total value of $32,096,336.20. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $24,274,300. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 815,945 shares of company stock worth $273,059,215 in the last three months. Corporate insiders own 20.70% of the company's stock.

Institutional Trading of Tesla

Several institutional investors and hedge funds have recently bought and sold shares of TSLA. True Wealth Design LLC increased its stake in shares of 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 acquiring an additional 31 shares during the period. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. increased its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC acquired a new position in shares of Tesla in the 4th quarter valued at $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in Tesla during the fourth quarter valued at about $38,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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.