Tesla’s (TSLA) “Sell” Rating Reiterated at UBS Group

UBS Group reaffirmed their sell rating on shares of Tesla (NASDAQ:TSLA) in a research note released on Friday morning,MarketScreener reports.

TSLA has been the topic of several other research reports. Glj Research reiterated a “sell” rating on shares of Tesla in a research note on Wednesday, October 22nd. Piper Sandler increased their target price on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. China Renaissance lifted their price target on shares of Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a report on Friday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. Finally, Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and eleven have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $391.08.

Tesla Stock Down 3.7%

TSLA opened at $429.52 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $420.97 and its 200 day simple moving average is $356.28. Tesla has a 1-year low of $214.25 and a 1-year high of $488.54. The stock has a market cap of $1.43 trillion, a PE ratio of 286.35, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same period last year, the firm earned $0.72 earnings per share. Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts expect that Tesla will post 2.56 earnings per share for the current year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by insiders.

Institutional Trading of Tesla

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Tesla by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 252,386,304 shares of the electric vehicle producer’s stock worth $112,241,237,000 after purchasing an additional 995,623 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tesla by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after purchasing an additional 1,269,304 shares in the last quarter. Norges Bank acquired a new stake in Tesla in the 2nd quarter valued at $11,839,824,000. Goldman Sachs Group Inc. raised its holdings in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Tesla by 5.9% in the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock valued at $6,424,705,000 after buying an additional 1,134,678 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.