DZ Bank Reiterates Sell Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reiterated by stock analysts at DZ Bank in a report released on Thursday,MarketScreener Latest Ratings reports.

Several other equities analysts have also issued reports on TSLA. TD Cowen boosted their price target on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Melius started coverage on Tesla in a research note on Monday, October 13th. They issued a “buy” rating and a $520.00 price objective for the company. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Piper Sandler lifted their price objective on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. Finally, Glj Research reiterated a “sell” rating on shares of Tesla in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $380.03.

Tesla Trading Down 3.4%

Tesla stock opened at $433.72 on Thursday. Tesla has a one year low of $214.25 and a one year high of $488.54. The company has a market cap of $1.44 trillion, a price-to-earnings ratio of 289.15, a P/E/G ratio of 16.13 and a beta of 2.08. The firm has a 50-day moving average of $398.06 and a 200-day moving average of $339.92. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. On average, equities analysts expect that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla 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. This trade represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in TSLA. Siren L.L.C. bought a new stake in shares of Tesla in the 1st quarter worth about $2,332,000. Zuckerman Investment Group LLC lifted its position in Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after purchasing an additional 826 shares during the period. Keystone Global Partners LLC purchased a new position in Tesla in the first quarter valued at $594,000. Strs Ohio purchased a new stake in shares of Tesla during the first quarter worth about $205,495,000. Finally, IFM Investors Pty Ltd increased its stake in shares of Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after purchasing an additional 46,087 shares in the last quarter. 66.20% of the stock is 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.