Tesla's (TSLA) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Tesla (NASDAQ:TSLA - Free Report) in a research report released on Tuesday morning, Marketbeat reports. Wedbush currently has a $500.00 price target on the electric vehicle producer's stock.

Several other equities analysts also recently commented on the company. Wells Fargo & Company cut their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. The Goldman Sachs Group raised their target price on Tesla from $285.00 to $315.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. William Blair downgraded Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday. Finally, Oppenheimer restated a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus target price of $300.19.

Tesla Stock Performance

Shares of TSLA stock traded up $3.64 during mid-day trading on Tuesday, reaching $313.51. The stock had a trading volume of 78,861,329 shares, compared to its average volume of 99,821,915. The firm's 50 day simple moving average is $322.60 and its 200 day simple moving average is $321.24. 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 has a one year low of $182.00 and a one year high of $488.54. The firm has a market cap of $1.01 trillion, a PE ratio of 172.26, a P/E/G ratio of 9.22 and a beta of 2.39.

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

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares in the company, valued at $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 835,509 shares of company stock worth $279,420,485. Insiders own 20.70% of the company's stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSLA. Eagle Capital Management LLC bought a new stake in Tesla in the fourth quarter valued at about $331,000. Brighton Jones LLC grew its stake in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in shares of Tesla during the fourth quarter worth about $346,000. Finally, Highview Capital Management LLC DE acquired a new stake in shares of Tesla during the fourth quarter worth about $2,367,000. Institutional investors 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.