Tesla, Inc. (NASDAQ:TSLA) Given Average Recommendation of “Hold” by Analysts

Shares of Tesla, Inc. (NASDAQ:TSLA) have been given a consensus rating of “Hold” by the forty ratings firms that are covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $295.69.

Several analysts have issued reports on TSLA shares. Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. UBS Group upped their target price on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research note on Monday, November 25th. Piper Sandler increased their target price on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Canaccord Genuity Group increased their price objective on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock worth $213,451,751 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. West Oak Capital LLC lifted its holdings in Tesla by 358.8% during the 4th quarter. West Oak Capital LLC now owns 234 shares of the electric vehicle producer’s stock worth $94,000 after buying an additional 183 shares during the last quarter. Graypoint LLC lifted its stake in Tesla by 12.6% during the fourth quarter. Graypoint LLC now owns 19,087 shares of the electric vehicle producer’s stock worth $7,708,000 after purchasing an additional 2,129 shares during the last quarter. RMR Wealth Builders boosted its holdings in Tesla by 72.0% in the fourth quarter. RMR Wealth Builders now owns 15,376 shares of the electric vehicle producer’s stock worth $6,209,000 after purchasing an additional 6,439 shares during the period. Tilia Fiduciary Partners Inc. bought a new stake in Tesla during the fourth quarter valued at $219,000. Finally, Trinity Financial Advisors LLC lifted its position in shares of Tesla by 24.8% in the 4th quarter. Trinity Financial Advisors LLC now owns 1,272 shares of the electric vehicle producer’s stock worth $482,000 after buying an additional 253 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ TSLA opened at $394.74 on Monday. The business has a 50 day moving average price of $376.60 and a 200 day moving average price of $281.84. The company has a market capitalization of $1.27 trillion, a P/E ratio of 108.15, a PEG ratio of 10.80 and a beta of 2.30. Tesla has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts expect that Tesla will post 1.99 EPS for the current fiscal year.

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.