DZ Bank Upgrades Tesla (NASDAQ:TSLA) to “Hold”

Tesla (NASDAQ:TSLAGet Free Report) was upgraded by DZ Bank from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday. The firm currently has a $385.00 price target on the electric vehicle producer’s stock. DZ Bank’s target price indicates a potential upside of 3.31% from the company’s previous close.

TSLA has been the subject of a number of other reports. Canaccord Genuity Group lifted their price objective on Tesla from $420.00 to $450.00 and gave the company a “buy” rating in a report on Thursday. Barclays reaffirmed a “neutral” rating on shares of Tesla in a report on Wednesday, April 15th. Morgan Stanley set a $415.00 price target on shares of Tesla and gave the company an “equal weight” rating in a research report on Thursday, January 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $510.00 price objective on shares of Tesla in a report on Wednesday. Finally, Mizuho cut their target price on shares of Tesla from $540.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday. Eighteen investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $398.45.

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Tesla Price Performance

Shares of NASDAQ:TSLA opened at $372.66 on Friday. The company has a market cap of $1.40 trillion, a price-to-earnings ratio of 341.89, a PEG ratio of 12.25 and a beta of 1.91. The business has a 50 day moving average price of $386.76 and a 200 day moving average price of $421.29. The company has a quick ratio of 1.77, a current ratio of 2.16 and a debt-to-equity ratio of 0.08. Tesla has a twelve month low of $259.63 and a twelve month high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.96%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the business posted $0.27 EPS. Research analysts predict that Tesla will post 1.37 earnings per share for the current year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,264 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $397.03, for a total transaction of $898,875.92. Following the completion of the sale, the chief financial officer owned 18,106 shares in the company, valued at approximately $7,188,625.18. The trade was a 11.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 25,809 shares of the company’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $359.33, for a total value of $9,273,947.97. Following the completion of the sale, the director owned 33,860 shares of the company’s stock, valued at $12,166,913.80. This represents a 43.25% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 53,804 shares of company stock worth $20,865,598. 19.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently modified their holdings of TSLA. Equita Financial Network Inc. raised its holdings in Tesla by 21.0% during the 1st quarter. Equita Financial Network Inc. now owns 1,365 shares of the electric vehicle producer’s stock worth $507,000 after buying an additional 237 shares during the period. Impact Partnership Wealth LLC raised its holdings in shares of Tesla by 15.7% during the first quarter. Impact Partnership Wealth LLC now owns 8,779 shares of the electric vehicle producer’s stock worth $3,263,000 after acquiring an additional 1,190 shares during the period. MQS Management LLC bought a new stake in Tesla in the 1st quarter valued at $315,000. Wheelhouse Advisory Group LLC increased its holdings in Tesla by 80.6% during the 1st quarter. Wheelhouse Advisory Group LLC now owns 4,312 shares of the electric vehicle producer’s stock worth $1,603,000 after purchasing an additional 1,925 shares in the last quarter. Finally, KOM Wealth Management Group LLC raised its stake in shares of Tesla by 17.2% in the 1st quarter. KOM Wealth Management Group LLC now owns 742 shares of the electric vehicle producer’s stock valued at $276,000 after purchasing an additional 109 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Key Tesla News

Here are the key news stories impacting Tesla this week:

Tesla Company Profile

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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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