Tesla’s (TSLA) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Monday,Benzinga reports. They currently have a $404.00 price target on the electric vehicle producer’s stock.

A number of other research analysts have also commented on TSLA. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research note on Monday, January 6th. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Glj Research restated a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. Evercore ISI increased their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Finally, Morgan Stanley restated a “top pick” rating and set a $430.00 target price on shares of Tesla in a research report on Monday, March 3rd. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $321.12.

Tesla Stock Up 4.7 %

Shares of TSLA opened at $235.86 on Monday. Tesla has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a market cap of $758.65 billion, a P/E ratio of 115.62, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The firm’s 50-day simple moving average is $341.28 and its 200 day simple moving average is $320.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, analysts forecast that Tesla will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

Several large investors have recently modified their holdings of the company. True Wealth Design LLC grew its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. grew its holdings in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC acquired a new stake in Tesla in the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla in the fourth quarter worth $38,000. 66.20% of the stock is currently 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.