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

Tesla, Inc. (NASDAQ:TSLA) has earned an average rating of “Hold” from the thirty-two analysts that are currently covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $211.93.

Several analysts recently issued reports on TSLA shares. JPMorgan Chase & Co. reduced their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, January 26th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, January 2nd. Wells Fargo & Company lowered Tesla from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $200.00 to $125.00 in a research note on Wednesday, March 13th. Piper Sandler reduced their price objective on Tesla from $295.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 5th. Finally, Edward Jones lowered Tesla from a “buy” rating to a “hold” rating in a research report on Friday, January 26th.

Insider Buying and Selling

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 198,598 shares of company stock worth $36,952,434 in the last 90 days. 25.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after acquiring an additional 1,402,443 shares during the period. Warren Street Wealth Advisors LLC grew its position in Tesla by 3.1% in the fourth quarter. Warren Street Wealth Advisors LLC now owns 4,591 shares of the electric vehicle producer’s stock valued at $1,141,000 after acquiring an additional 137 shares in the last quarter. Accent Capital Management LLC acquired a new stake in Tesla in the fourth quarter valued at approximately $70,000. M3 Advisory Group LLC acquired a new stake in Tesla in the fourth quarter valued at approximately $549,000. Finally, BlueChip Wealth Advisors LLC acquired a new stake in Tesla in the fourth quarter valued at approximately $289,000. 41.87% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

TSLA opened at $170.83 on Tuesday. The firm has a market cap of $544.06 billion, a P/E ratio of 39.64, a PEG ratio of 3.89 and a beta of 2.41. Tesla has a 1-year low of $152.37 and a 1-year high of $299.29. The company has a 50 day simple moving average of $190.26 and a two-hundred day simple moving average of $223.61. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the company posted $1.07 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. Equities analysts forecast that Tesla will post 2.45 earnings per share 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.