Tesla, Inc. (NASDAQ:TSLA) Receives Consensus Recommendation of “Hold” from Brokerages

Tesla, Inc. (NASDAQ:TSLA) has earned a consensus rating of “Hold” from the thirty-eight brokerages that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $318.34.

A number of equities research analysts have commented on TSLA shares. Piper Sandler decreased their price objective on Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Canaccord Genuity Group restated a “buy” rating and set a $404.00 price target on shares of Tesla in a report on Monday, March 17th. Bank of America dropped their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Wedbush reissued an “outperform” rating and set a $550.00 target price on shares of Tesla in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday.

Tesla Stock Down 3.5 %

TSLA stock opened at $263.55 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market capitalization of $847.71 billion, a P/E ratio of 129.19, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla has a 52-week low of $138.80 and a 52-week high of $488.54. The company’s 50 day simple moving average is $321.33 and its 200-day simple moving average is $321.68.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities research analysts anticipate that Tesla will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after acquiring an additional 194,796 shares in the last quarter. United Bank acquired a new stake in shares of Tesla during the 3rd quarter worth about $287,000. Quantbot Technologies LP bought a new position in Tesla during the 3rd quarter valued at about $687,000. Glenmede Trust Co. NA boosted its position in Tesla by 34.1% in the third quarter. Glenmede Trust Co. NA now owns 50,899 shares of the electric vehicle producer’s stock valued at $13,317,000 after buying an additional 12,955 shares in the last quarter. Finally, Fiduciary Trust Co grew its stake in Tesla by 15.5% during the third quarter. Fiduciary Trust Co now owns 10,594 shares of the electric vehicle producer’s stock worth $2,772,000 after buying an additional 1,425 shares during 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.