Tesla (NASDAQ:TSLA) Rating Reiterated by The Goldman Sachs Group

The Goldman Sachs Group reaffirmed their neutral rating on shares of Tesla (NASDAQ:TSLA) in a research report sent to investors on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a $175.00 price objective on the electric vehicle producer’s stock.

A number of other brokerages have also recently issued reports on TSLA. Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $123.00 to $136.00 and gave the company a hold rating in a research report on Thursday, April 25th. Wells Fargo & Company reissued an underweight rating and issued a $120.00 price objective on shares of Tesla in a report on Monday. HSBC lowered their target price on shares of Tesla from $138.00 to $120.00 and set a reduce rating on the stock in a research report on Wednesday, April 24th. Stifel Nicolaus initiated coverage on shares of Tesla in a research note on Tuesday, June 25th. They set a buy rating and a $265.00 price target for the company. Finally, Roth Mkm restated a neutral rating and issued a $85.00 price objective on shares of Tesla in a research note on Wednesday, April 24th. Seven 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 company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $189.47.

Tesla Stock Performance

Shares of Tesla stock opened at $246.39 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29. The firm’s 50 day moving average is $180.89 and its two-hundred day moving average is $190.93. The firm has a market capitalization of $785.79 billion, a P/E ratio of 62.85, a P/E/G ratio of 4.91 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last issued 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 net margin of 14.37% and a return on equity of 13.18%. The business had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Research analysts forecast that Tesla will post 1.86 EPS 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 company’s stock in a transaction dated 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 sale, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 $2,772,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly 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. 20.90% of the stock is currently owned by insiders.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. Scotia Capital Inc. grew its holdings in Tesla by 2.4% in the 3rd quarter. Scotia Capital Inc. now owns 87,131 shares of the electric vehicle producer’s stock valued at $21,804,000 after buying an additional 2,018 shares during the period. Royal London Asset Management Ltd. raised its stake in Tesla by 7.0% during the third quarter. Royal London Asset Management Ltd. now owns 1,214,065 shares of the electric vehicle producer’s stock worth $303,844,000 after purchasing an additional 79,612 shares during the period. Objective Capital Management LLC boosted its holdings in shares of Tesla by 10.8% in the 3rd quarter. Objective Capital Management LLC now owns 1,610 shares of the electric vehicle producer’s stock valued at $403,000 after purchasing an additional 157 shares during the last quarter. FSA Wealth Management LLC grew its stake in shares of Tesla by 0.6% during the 3rd quarter. FSA Wealth Management LLC now owns 14,314 shares of the electric vehicle producer’s stock valued at $3,582,000 after buying an additional 83 shares during the period. Finally, Toroso Investments LLC increased its holdings in shares of Tesla by 3.7% during the 3rd quarter. Toroso Investments LLC now owns 282,581 shares of the electric vehicle producer’s stock worth $70,707,000 after buying an additional 10,025 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.