Tesla (NASDAQ:TSLA) Stock Rating Reaffirmed by New Street Research

Tesla (NASDAQ:TSLA)‘s stock had its “buy” rating reissued by New Street Research in a research report issued on Tuesday, Benzinga reports. They currently have a $235.00 target price on the electric vehicle producer’s stock. New Street Research’s price target would suggest a potential upside of 19.67% from the company’s current price.

Several other equities research analysts have also weighed in on TSLA. Jefferies Financial Group reduced their target price on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. The Goldman Sachs Group reiterated a “neutral” rating and set a $175.00 price target on shares of Tesla in a report on Friday, June 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $230.00 price target on shares of Tesla in a report on Monday. Royal Bank of Canada cut their price target on Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $280.00 price target on shares of Tesla in a report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $187.30.

Tesla Trading Up 4.8 %

Shares of NASDAQ TSLA opened at $196.37 on Tuesday. The stock has a market cap of $626.26 billion, a price-to-earnings ratio of 50.09, a PEG ratio of 4.65 and a beta of 2.32. The business has a 50 day simple moving average of $175.02 and a 200 day simple moving average of $192.25. Tesla has a 52 week low of $138.80 and a 52 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.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting 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 during the quarter, compared to analyst estimates of $22.15 billion. On average, research analysts predict that Tesla will post 1.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,855 shares of company stock valued at $19,285,643. 25.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

Hedge funds have recently modified their holdings of the business. Mather Group LLC. grew its stake in Tesla by 18.5% in the third quarter. Mather Group LLC. now owns 9,855 shares of the electric vehicle producer’s stock valued at $2,466,000 after purchasing an additional 1,541 shares in the last quarter. Roundview Capital LLC boosted its stake in shares of Tesla by 24.9% during the 3rd quarter. Roundview Capital LLC now owns 7,733 shares of the electric vehicle producer’s stock worth $1,935,000 after acquiring an additional 1,543 shares during the period. Private Advisory Group LLC boosted its stake in shares of Tesla by 15.1% during the 3rd quarter. Private Advisory Group LLC now owns 48,723 shares of the electric vehicle producer’s stock worth $12,191,000 after acquiring an additional 6,401 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Tesla by 60.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 189,031 shares of the electric vehicle producer’s stock worth $47,299,000 after acquiring an additional 71,255 shares during the period. Finally, Beacon Bridge Wealth Partners LLC boosted its stake in shares of Tesla by 4.7% during the 3rd quarter. Beacon Bridge Wealth Partners LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $1,017,000 after acquiring an additional 183 shares during the period. Institutional investors and hedge funds 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.