New Street Research Reiterates “Buy” Rating for Tesla (NASDAQ:TSLA)

New Street Research reiterated their buy rating on shares of Tesla (NASDAQ:TSLA) in a report issued on Tuesday, Benzinga reports. The firm currently has a $235.00 price objective on the electric vehicle producer’s stock.

A number of other research analysts also recently commented on TSLA. Wedbush reaffirmed an outperform rating and set a $275.00 price objective on shares of Tesla in a research report on Friday, June 14th. Morgan Stanley restated an overweight rating and set a $310.00 price target on shares of Tesla in a report on Thursday, June 20th. UBS Group reduced their price objective on Tesla from $160.00 to $147.00 and set a neutral rating for the company in a research report on Wednesday, April 24th. Needham & Company LLC reaffirmed a hold rating on shares of Tesla in a research report on Wednesday, April 24th. Finally, Piper Sandler reiterated an overweight rating and set a $205.00 price target on shares of Tesla in a report on Monday, April 22nd. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $187.30.

Tesla Trading Up 2.6 %

NASDAQ TSLA opened at $187.35 on Tuesday. The firm’s 50 day moving average price is $175.02 and its two-hundred day moving average price is $192.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla has a twelve month low of $138.80 and a twelve month high of $299.29. The stock has a market cap of $597.50 billion, a price-to-earnings ratio of 47.79, a PEG ratio of 4.54 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Equities analysts anticipate that Tesla will post 1.87 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Insiders have sold 104,855 shares of company stock worth $19,285,643 in the last ninety days. Insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently added to or reduced their stakes in TSLA. Vanguard Group Inc. raised its stake in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares in the last quarter. Norges Bank bought a new position in Tesla during the 4th quarter valued at about $7,844,757,000. Morgan Stanley grew its stake in Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after buying an additional 2,177,397 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Tesla by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after acquiring an additional 458,804 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after acquiring an additional 1,125,329 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.