Tesla, Inc. (NASDAQ:TSLA) Given Average Recommendation of “Hold” by Brokerages

Shares of Tesla, Inc. (NASDAQ:TSLA) have been assigned an average recommendation of “Hold” from the forty-six research firms that are presently covering the firm, Marketbeat reports. Eleven research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $391.0824.

A number of equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. Piper Sandler raised their price target on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. Truist Financial lifted their price objective on Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. CICC Research increased their target price on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Finally, Cantor Fitzgerald set a $510.00 target price on shares of Tesla and gave the company an “overweight” rating in a research report on Thursday, October 23rd.

Tesla Trading Down 3.7%

Shares of TSLA opened at $429.52 on Friday. The company’s fifty day simple moving average is $420.97 and its 200-day simple moving average is $355.54. The company has a market cap of $1.43 trillion, a P/E ratio of 286.35, a P/E/G ratio of 16.84 and a beta of 2.06. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla has a twelve month low of $214.25 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts expect that Tesla will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last quarter. 19.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

A number of institutional investors have recently modified their holdings of TSLA. Vanguard Group Inc. increased its holdings in Tesla by 0.4% in the third quarter. Vanguard Group Inc. now owns 252,386,304 shares of the electric vehicle producer’s stock valued at $112,241,237,000 after buying an additional 995,623 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Tesla by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after acquiring an additional 1,269,304 shares during the period. Norges Bank purchased a new position in shares of Tesla in the 2nd quarter valued at about $11,839,824,000. Goldman Sachs Group Inc. raised its holdings in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Finally, Legal & General Group Plc boosted its position in Tesla by 5.9% during the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock worth $6,424,705,000 after purchasing an additional 1,134,678 shares in the last quarter. Hedge funds and other institutional investors 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.