Tesla’s (TSLA) Sell Rating Reaffirmed at JPMorgan Chase & Co.

Tesla (NASDAQ:TSLAGet Free Report)‘s stock had its “sell” rating restated by equities researchers at JPMorgan Chase & Co. in a research note issued on Wednesday,MarketScreener reports.

A number of other equities analysts have also weighed in on the company. Wedbush reiterated an “outperform” rating and set a $600.00 price objective on shares of Tesla in a research note on Tuesday. Zacks Research downgraded Tesla from a “hold” rating to a “strong sell” rating in a research note on Monday, March 30th. UBS Group raised Tesla from a “sell” rating to a “neutral” rating and set a $352.00 price target for the company in a report on Tuesday, April 14th. Tigress Financial started coverage on shares of Tesla in a research note on Thursday, February 12th. They set a “buy” rating and a $550.00 price objective on the stock. Finally, Bank of America began coverage on shares of Tesla in a report on Wednesday, March 4th. They set a “buy” rating and a $460.00 target price for the company. Eighteen analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the company. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $397.26.

Check Out Our Latest Stock Analysis on Tesla

Tesla Stock Up 0.4%

TSLA stock opened at $388.09 on Wednesday. The company has a market capitalization of $1.46 trillion, a P/E ratio of 359.86, a price-to-earnings-growth ratio of 12.41 and a beta of 1.91. Tesla has a 12 month low of $244.43 and a 12 month high of $498.83. The firm’s fifty day simple moving average is $388.44 and its 200-day simple moving average is $421.86. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.16 and a quick ratio of 1.77.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The firm had revenue of $24.90 billion during the quarter, compared to analysts’ expectations of $24.75 billion. During the same quarter last year, the company posted $0.73 earnings per share. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla will post 1.37 earnings per share for the current year.

Insider Activity at Tesla

In other news, Director Kathleen Wilson-Thompson sold 25,809 shares of the stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $359.33, for a total transaction of $9,273,947.97. Following the transaction, the director owned 33,860 shares in the company, valued at $12,166,913.80. This trade represents a 43.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,264 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $397.03, for a total transaction of $898,875.92. Following the completion of the sale, the chief financial officer directly owned 18,106 shares of the company’s stock, valued at approximately $7,188,625.18. The trade was a 11.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 53,804 shares of company stock worth $20,865,598. 19.90% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

Several institutional investors have recently modified their holdings of TSLA. Networth Advisors LLC purchased a new position in Tesla in the 4th quarter valued at about $26,000. Chapman Financial Group LLC purchased a new stake in Tesla during the 2nd quarter worth approximately $26,000. Davidson Capital Management Inc. raised its holdings in shares of Tesla by 79.4% during the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 27 shares during the last quarter. Friedenthal Financial lifted its position in shares of Tesla by 66.7% in the first quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 30 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Tesla in the third quarter worth approximately $29,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

About Tesla

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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