Tesla (NASDAQ:TSLA) Rating Reiterated by Morgan Stanley

Tesla (NASDAQ:TSLA)‘s stock had its “overweight” rating restated by equities researchers at Morgan Stanley in a report released on Thursday, Benzinga reports. They currently have a $310.00 target price on the electric vehicle producer’s stock. Morgan Stanley’s price target indicates a potential upside of 69.39% from the stock’s previous close.

A number of other research analysts have also recently weighed in on TSLA. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective on shares of Tesla in a report on Monday, April 22nd. Royal Bank of Canada cut their price objective on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Truist Financial cut their target price on shares of Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group cut their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $183.62.

Tesla Stock Up 0.8 %

TSLA opened at $183.01 on Thursday. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The company has a fifty day moving average of $173.99 and a two-hundred day moving average of $193.71. The stock has a market capitalization of $583.66 billion, a price-to-earnings ratio of 46.69, a PEG ratio of 4.58 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last released 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, research analysts expect that Tesla will post 1.87 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Xiaotong Zhu sold 650 shares of the 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 completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders have sold 104,855 shares of company stock valued at $19,285,643 in the last ninety days. Insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Large investors have recently bought and sold shares of the business. Stifel Financial Corp lifted its stake in shares of Tesla by 2.1% in the 3rd quarter. Stifel Financial Corp now owns 395,763 shares of the electric vehicle producer’s stock worth $99,028,000 after acquiring an additional 8,183 shares during the period. Federated Hermes Inc. lifted its stake in shares of Tesla by 13.3% in the third quarter. Federated Hermes Inc. now owns 82,508 shares of the electric vehicle producer’s stock valued at $20,645,000 after purchasing an additional 9,676 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Tesla by 10.0% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,073 shares of the electric vehicle producer’s stock valued at $1,019,000 after purchasing an additional 370 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Tesla by 25.3% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 7,769 shares of the electric vehicle producer’s stock valued at $1,944,000 after purchasing an additional 1,568 shares during the period. Finally, Personal CFO Solutions LLC lifted its stake in shares of Tesla by 9.0% in the third quarter. Personal CFO Solutions LLC now owns 9,916 shares of the electric vehicle producer’s stock valued at $2,481,000 after purchasing an additional 815 shares during the period. Institutional investors and hedge funds 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.