Tesla (NASDAQ:TSLA) Earns “Underweight” Rating from Wells Fargo & Company

Tesla (NASDAQ:TSLA)‘s stock had its “underweight” rating reaffirmed by equities research analysts at Wells Fargo & Company in a research note issued on Monday, Benzinga reports. They presently have a $120.00 price objective on the electric vehicle producer’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 40.28% from the company’s previous close.

Several other research analysts have also weighed in on TSLA. Jefferies Financial Group decreased their price objective on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a report on Wednesday, April 17th. UBS Group reduced their target price on Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Canaccord Genuity Group lowered their price target on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Finally, Truist Financial reduced their price objective on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Seven equities research 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $187.30.

Tesla Stock Up 1.6 %

Shares of Tesla stock opened at $200.95 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29. The business has a 50-day moving average of $177.80 and a 200-day moving average of $191.38. The company has a market capitalization of $640.87 billion, a PE ratio of 51.26, a P/E/G ratio of 4.91 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. As a group, equities analysts forecast that Tesla will post 1.86 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was 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 directly owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by insiders.

Institutional Trading of Tesla

A number of large investors have recently added to or reduced their stakes in the business. Holderness Investments Co. boosted its position in shares of Tesla by 1.6% in the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after buying an additional 42 shares during the period. Daymark Wealth Partners LLC increased its holdings in shares of Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after purchasing an additional 45 shares during the period. Cravens & Co Advisors LLC lifted its position in shares of Tesla by 1.2% in the third quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock worth $1,025,000 after purchasing an additional 48 shares in the last quarter. Patten & Patten Inc. TN boosted its holdings in shares of Tesla by 1.1% during the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after purchasing an additional 48 shares during the period. Finally, Caerus Investment Advisors LLC lifted its position in Tesla by 0.3% in the 4th quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock worth $3,577,000 after buying an additional 49 shares in the last quarter. 66.20% of the stock is currently 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.