Tesla (NASDAQ:TSLA) Given “Underweight” Rating at Wells Fargo & Company

Wells Fargo & Company reaffirmed their underweight rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Monday, Benzinga reports. Wells Fargo & Company currently has a $120.00 target price on the electric vehicle producer’s stock.

TSLA has been the topic of several other reports. Roth Mkm reaffirmed a neutral rating and issued a $85.00 price objective on shares of Tesla in a research note on Wednesday, April 24th. Barclays reduced their price objective on Tesla from $225.00 to $180.00 and set an equal weight rating on the stock in a research note on Wednesday, April 17th. Wedbush reaffirmed an outperform rating and issued a $275.00 price objective on shares of Tesla in a research note on Friday, June 14th. Truist Financial reduced their price target on Tesla from $176.00 to $162.00 and set a hold rating on the stock in a research report on Wednesday, April 24th. Finally, HSBC reduced their price target on Tesla from $138.00 to $120.00 and set a reduce rating on the stock in a research report on Wednesday, April 24th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $187.30.

Tesla Stock Up 6.1 %

Shares of NASDAQ:TSLA opened at $209.86 on Monday. The stock’s 50-day moving average price is $177.80 and its two-hundred day moving average price is $191.38. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29. The firm has a market cap of $669.29 billion, a price-to-earnings ratio of 53.54, a PEG ratio of 4.91 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, research analysts forecast that Tesla will post 1.86 EPS for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s 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 completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TSLA. Glenmede Trust Co. NA lifted its holdings in shares of Tesla by 3.5% in the third quarter. Glenmede Trust Co. NA now owns 38,224 shares of the electric vehicle producer’s stock valued at $9,564,000 after buying an additional 1,303 shares during the period. Evergreen Capital Management LLC lifted its holdings in shares of Tesla by 27.8% in the third quarter. Evergreen Capital Management LLC now owns 33,132 shares of the electric vehicle producer’s stock valued at $8,290,000 after buying an additional 7,217 shares during the period. Elevatus Welath Management lifted its holdings in shares of Tesla by 99.5% in the third quarter. Elevatus Welath Management now owns 2,502 shares of the electric vehicle producer’s stock valued at $626,000 after buying an additional 1,248 shares during the period. Legacy Advisors LLC lifted its holdings in shares of Tesla by 39.4% in the third quarter. Legacy Advisors LLC now owns 12,718 shares of the electric vehicle producer’s stock valued at $3,182,000 after buying an additional 3,593 shares during the period. Finally, Lakeshore Financial Planning Inc. acquired a new stake in shares of Tesla in the third quarter valued at $231,000. 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.