Tesla (NASDAQ:TSLA) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Tesla (NASDAQ:TSLA) in a research report released on Friday, Benzinga reports. The brokerage currently has a $300.00 price objective on the electric vehicle producer’s stock.

Several other brokerages have also recently issued reports on TSLA. Morgan Stanley decreased their price target on shares of Tesla from $320.00 to $310.00 and set an overweight rating for the company in a research report on Thursday, April 4th. TD Cowen decreased their price target on shares of Tesla from $200.00 to $180.00 and set a market perform rating for the company in a research report on Thursday, January 25th. Redburn Atlantic started coverage on shares of Tesla in a research report on Wednesday, January 24th. They issued a sell rating and a $170.00 price target for the company. Robert W. Baird restated an outperform rating and issued a $280.00 price target on shares of Tesla in a research report on Wednesday. Finally, Canaccord Genuity Group decreased their price target on shares of Tesla from $267.00 to $234.00 and set a buy rating for the company in a research report on Thursday, January 25th. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $194.70.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $147.05 on Friday. The company has a market cap of $468.32 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 3.96 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The firm has a 50 day simple moving average of $178.51 and a 200 day simple moving average of $211.48. Tesla has a one year low of $146.22 and a one year high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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). The company had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.07 EPS. Research analysts predict that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now directly 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 Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’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 transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’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 transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Over the last three months, 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 Inflows and Outflows

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Tesla during the fourth quarter worth about $7,844,757,000. Moneta Group Investment Advisors LLC increased its holdings in Tesla by 180,125.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after buying an additional 26,836,879 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Tesla by 203.9% during the third quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after buying an additional 13,558,882 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Tesla by 26.3% during the fourth quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock worth $3,132,119,000 after buying an additional 5,292,464 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Company Profile

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.