Tesla (NASDAQ:TSLA) Rating Increased to Strong-Buy at DZ Bank

DZ Bank upgraded shares of Tesla (NASDAQ:TSLAFree Report) from a hold rating to a strong-buy rating in a report published on Thursday,Zacks.com reports.

TSLA has been the topic of a number of other reports. BNP Paribas Exane lowered shares of Tesla from a “hold” rating to an “underperform” rating in a research report on Friday, June 5th. Evercore raised shares of Tesla from a “hold” rating to an “outperform” rating in a report on Friday, June 5th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Thursday. Roth Capital reaffirmed a “buy” rating and set a $505.00 price target on shares of Tesla in a report on Thursday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Tesla in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $404.95.

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Tesla Stock Performance

Tesla stock opened at $313.03 on Thursday. The firm has a market capitalization of $1.18 trillion, a P/E ratio of 289.85, a P/E/G ratio of 10.73 and a beta of 1.80. The stock has a fifty day moving average price of $400.74 and a two-hundred day moving average price of $402.53. Tesla has a 52-week low of $297.82 and a 52-week high of $498.83. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.94 and a quick ratio of 1.62.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.17). Tesla had a net margin of 3.67% and a return on equity of 3.82%. The firm had revenue of $28.24 billion during the quarter, compared to analyst estimates of $26.42 billion. During the same quarter in the prior year, the firm posted $0.33 EPS. The firm’s revenue for the quarter was up 25.5% on a year-over-year basis. As a group, analysts anticipate that Tesla will post 1.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the chief financial officer owned 18,106 shares in the company, valued at $8,147,700. The trade was a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the transaction, the director directly owned 48,399 shares in the company, valued at $18,300,145.89. This trade represents a 35.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,015 shares of company stock worth $12,383,640 over the last quarter. Corporate insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Large investors have recently bought and sold shares of the business. Networth Advisors LLC bought a new stake in shares of Tesla during the 4th quarter valued at $26,000. Chapman Financial Group LLC bought a new position in shares of Tesla in the 2nd quarter worth $26,000. Davidson Capital Management Inc. boosted its position in shares of Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 27 shares during the last quarter. Friedenthal Financial grew its stake in shares of Tesla by 66.7% during the first quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 30 shares during the period. Finally, Prism Advisors Inc. bought a new stake in Tesla in the fourth quarter valued at about $30,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

About Tesla

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean?energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery?electric vehicles and related services.

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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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