Tesla (NASDAQ:TSLA) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Tesla (NASDAQ:TSLA) in a research report report published on Wednesday, Benzinga reports.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada reissued an outperform rating and issued a $298.00 price target on shares of Tesla in a research report on Wednesday, March 27th. Deutsche Bank Aktiengesellschaft cut shares of Tesla from a buy rating to a hold rating and decreased their price target for the company from $189.00 to $123.00 in a research report on Thursday, April 18th. Piper Sandler reissued an overweight rating and issued a $205.00 price target on shares of Tesla in a research report on Monday. Edward Jones cut shares of Tesla from a buy rating to a hold rating in a research report on Friday, January 26th. Finally, Citigroup decreased their price target on shares of Tesla from $196.00 to $180.00 and set a neutral rating for the company in a research report on Friday, April 12th. Eight equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $186.22.

Tesla Stock Up 12.1 %

Tesla stock opened at $162.13 on Wednesday. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The firm has a 50 day moving average price of $176.28 and a 200 day moving average price of $208.91. The company has a market capitalization of $516.35 billion, a PE ratio of 41.36, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.68%. The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the business earned $1.07 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. Research analysts expect that Tesla will post 1.97 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Several institutional investors and hedge funds have recently modified their holdings of TSLA. Wyrmwood Management LLC purchased a new stake in shares of Tesla in the fourth quarter valued at about $25,000. Lam Group Inc. purchased a new stake in shares of Tesla in the fourth quarter valued at about $25,000. Mendota Financial Group LLC lifted its holdings in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV lifted its holdings in shares of Tesla by 94.5% in the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla in the fourth quarter valued at about $37,000. Hedge funds and other institutional investors 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.