Tesla’s (TSLA) Hold Rating Reiterated at Needham & Company LLC

Tesla (NASDAQ:TSLA)‘s stock had its “hold” rating reiterated by research analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports.

Other equities analysts have also issued research reports about the stock. KGI Securities reissued a “neutral” rating and issued a $236.00 price target on shares of Tesla in a report on Thursday, July 25th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a research report on Wednesday, July 24th. Finally, Roth Mkm reissued a “neutral” rating and set a $85.00 price target on shares of Tesla in a research report on Friday, October 11th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $219.00.

Tesla Trading Up 3.3 %

NASDAQ:TSLA opened at $269.19 on Thursday. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla has a 1-year low of $138.80 and a 1-year high of $271.00. The firm has a market capitalization of $858.50 billion, a price-to-earnings ratio of 68.67, a PEG ratio of 6.24 and a beta of 2.29. The business’s 50-day moving average price is $229.47 and its two-hundred day moving average price is $206.79.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company posted $0.53 EPS. On average, equities analysts expect that Tesla will post 1.75 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Institutional investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC bought a new position in Tesla in the 1st quarter valued at approximately $79,000. Wealthcare Advisory Partners LLC grew its position in Tesla by 3.5% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 14,655 shares of the electric vehicle producer’s stock worth $2,576,000 after acquiring an additional 501 shares during the last quarter. Register Financial Advisors LLC raised its position in Tesla by 32.7% in the first quarter. Register Financial Advisors LLC now owns 1,677 shares of the electric vehicle producer’s stock valued at $295,000 after purchasing an additional 413 shares during the last quarter. Kathmere Capital Management LLC boosted its stake in shares of Tesla by 9.2% during the first quarter. Kathmere Capital Management LLC now owns 1,177 shares of the electric vehicle producer’s stock valued at $207,000 after purchasing an additional 99 shares in the last quarter. Finally, Astoria Portfolio Advisors LLC. increased its stake in shares of Tesla by 4.3% in the first quarter. Astoria Portfolio Advisors LLC. now owns 1,613 shares of the electric vehicle producer’s stock valued at $260,000 after buying an additional 67 shares during the period. 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.