Tesla’s (TSLA) “Outperform” Rating Reaffirmed at Wedbush

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a note issued to investors on Thursday, Benzinga reports. They currently have a $300.00 target price on the electric vehicle producer’s stock. Wedbush’s price target suggests a potential upside of 12.13% from the company’s previous close.

Several other equities research analysts also recently weighed in on TSLA. Wells Fargo & Company reissued an “underweight” rating and issued a $120.00 target price on shares of Tesla in a research report on Monday, July 1st. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research note on Friday, July 5th. Barclays reduced their price target on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. New Street Research reaffirmed a “buy” rating and set a $235.00 target price on shares of Tesla in a report on Tuesday, June 25th. Finally, Royal Bank of Canada cut their target price on Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Seven investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $195.39.

Tesla Stock Up 1.6 %

NASDAQ TSLA traded up $4.29 on Thursday, reaching $267.55. The company had a trading volume of 21,621,193 shares, compared to its average volume of 98,113,148. The firm has a 50-day moving average of $190.19 and a 200-day moving average of $191.41. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a market capitalization of $853.27 billion, a PE ratio of 67.73, a P/E/G ratio of 6.27 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 for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. On average, equities research analysts anticipate 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 Tesla stock in a transaction on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the 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 sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Several large investors have recently made changes to their positions in TSLA. Vanguard Group Inc. boosted its position in shares of Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the last quarter. Norges Bank acquired a new position in shares of Tesla during the 4th quarter worth about $7,844,757,000. Charles Schwab Investment Management Inc. raised its position in shares of Tesla by 3.1% in the 4th 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 period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Tesla by 12.9% during 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 during the last quarter. Finally, International Assets Investment Management LLC grew 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 valued at $1,541,273,000 after purchasing an additional 6,179,032 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.