Tesla (NASDAQ:TSLA) Earns Neutral Rating from The Goldman Sachs Group

The Goldman Sachs Group restated their neutral rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Friday morning, Benzinga reports. The brokerage currently has a $230.00 price objective on the electric vehicle producer’s stock.

Several other equities research analysts have also recently commented on the company. Truist Financial boosted their target price on Tesla from $215.00 to $236.00 and gave the stock a hold rating in a report on Thursday, October 3rd. Canaccord Genuity Group reissued a buy rating and issued a $254.00 price objective on shares of Tesla in a research note on Friday, September 13th. Oppenheimer reaffirmed a market perform rating on shares of Tesla in a research note on Tuesday, October 8th. Argus reiterated a buy rating and issued a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft restated a buy rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Tesla presently has a consensus rating of Hold and an average price target of $210.72.

Tesla Stock Down 8.8 %

Shares of Tesla stock opened at $217.80 on Friday. Tesla has a 1-year low of $138.80 and a 1-year high of $271.00. The company has a market capitalization of $695.79 billion, a P/E ratio of 61.18, a PEG ratio of 6.48 and a beta of 2.29. The business’s fifty day moving average price is $225.43 and its two-hundred day moving average price is $203.96. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the company earned $0.78 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts forecast that Tesla will post 1.75 EPS for the current year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,661 shares of company stock worth $16,663,291. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC grew its holdings in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC increased its position in Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after buying an additional 135,966 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Tesla by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after buying an additional 412,872 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.