Stifel Nicolaus Initiates Coverage on Tesla (NASDAQ:TSLA)

Stock analysts at Stifel Nicolaus began coverage on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $265.00 price target on the electric vehicle producer’s stock. Stifel Nicolaus’ price target suggests a potential upside of 34.95% from the stock’s current price.

A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $230.00 price objective on shares of Tesla in a research report on Monday. Piper Sandler reissued an “overweight” rating and issued a $205.00 price objective on shares of Tesla in a research report on Monday, April 22nd. Jefferies Financial Group dropped their price target on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, June 10th. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $187.30.

Tesla Stock Up 4.8 %

Shares of NASDAQ:TSLA opened at $196.37 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a market capitalization of $626.26 billion, a PE ratio of 50.09, a price-to-earnings-growth ratio of 4.65 and a beta of 2.32. The business has a 50 day simple moving average of $175.02 and a two-hundred day simple moving average of $192.25. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. On average, equities analysts predict that Tesla will post 1.87 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,855 shares of company stock worth $19,285,643. Company insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Institutional investors have recently added to or reduced their stakes in the business. Wyrmwood Management LLC acquired a new position in shares of Tesla during the fourth quarter worth approximately $25,000. Lam Group Inc. acquired a new position in shares of Tesla during the fourth quarter worth approximately $25,000. Mendota Financial Group LLC grew its holdings in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in Tesla during the fourth quarter worth $37,000. Finally, Guardian Wealth Management Inc. bought a new stake in Tesla during the fourth quarter worth $47,000. 66.20% of the stock is 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.