Tesla’s (TSLA) “Neutral” Rating Reaffirmed at The Goldman Sachs Group

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating restated by The Goldman Sachs Group in a report issued on Wednesday, Benzinga reports. They presently have a $175.00 price objective on the electric vehicle producer’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 24.33% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group reduced their price objective on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Evercore ISI decreased their price target on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $230.00 price target on shares of Tesla in a research note on Monday. Finally, UBS Group reduced their price objective on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $187.57.

Tesla Price Performance

Shares of TSLA opened at $231.26 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The firm has a market capitalization of $737.53 billion, a PE ratio of 59.00, a P/E/G ratio of 4.91 and a beta of 2.31. The stock has a 50 day simple moving average of $179.16 and a 200 day simple moving average of $191.09. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29.

Tesla (NASDAQ:TSLA) last issued 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. The company had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Sell-side analysts predict that Tesla will post 1.86 EPS for the current fiscal year.

Insider Activity at Tesla

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

Institutional Investors Weigh In On Tesla

Hedge funds have recently added to or reduced their stakes in the business. Wyrmwood Management LLC acquired a new stake in Tesla in the fourth quarter valued at $25,000. Lam Group Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at about $25,000. Mendota Financial Group LLC lifted its stake 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 worth $34,000 after acquiring an additional 91 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in Tesla during the 4th quarter valued at approximately $37,000. Finally, Guardian Wealth Management Inc. bought a new position in Tesla during the 4th quarter worth approximately $47,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.