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

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

TSLA has been the topic of a number of other reports. Piper Sandler raised their price target on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research note on Thursday, October 24th. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. UBS Group boosted their price objective on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $365.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $321.71.

Tesla Price Performance

TSLA stock opened at $350.73 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business has a 50-day simple moving average of $408.27 and a two-hundred day simple moving average of $304.55. The company has a market capitalization of $1.13 trillion, a P/E ratio of 171.93, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. Tesla has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly 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 return on equity of 10.31% and a net margin of 7.26%. Research analysts expect that Tesla will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 635,776 shares of company stock worth $231,335,112 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new stake in Tesla during the third quarter valued at about $29,000. Peterson Financial Group Inc. purchased a new stake in Tesla during the 3rd quarter valued at about $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Tesla during the 4th quarter worth approximately $46,000. Parkworth Wealth Management Inc. purchased a new position in Tesla in the 4th quarter worth approximately $47,000. Finally, PayPay Securities Corp lifted its position in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares during the last quarter. 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.