Tesla (NASDAQ:TSLA) Rating Reiterated by Glj Research

Glj Research reiterated their sell rating on shares of Tesla (NASDAQ:TSLA) in a report published on Thursday morning, Benzinga reports. Glj Research currently has a $24.86 price target on the electric vehicle producer’s stock.

Several other research analysts also recently commented on TSLA. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $230.00 price target on shares of Tesla in a research report on Friday, October 11th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $254.00 target price on shares of Tesla in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Friday, October 11th. Finally, Wolfe Research began coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $210.72.

Tesla Price Performance

Shares of Tesla stock opened at $220.70 on Thursday. Tesla has a 1-year low of $138.80 and a 1-year high of $271.00. The firm has a fifty day simple moving average of $227.67 and a 200-day simple moving average of $205.65. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $705.06 billion, a price-to-earnings ratio of 61.99, a PEG ratio of 6.31 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. On average, sell-side analysts expect that Tesla will post 1.75 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 in the last 90 days. 20.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TSLA. Clean Energy Transition LLP boosted its stake in Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after acquiring an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. Vanguard Group Inc. increased its holdings in Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after purchasing an additional 1,479,378 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Tesla by 12.9% during the first 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 buying an additional 1,125,329 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.