Tesla (NASDAQ:TSLA) Stock Rating Upgraded by Baird R W
Baird R W upgraded Tesla's stock rating from "hold" to "strong-buy". Other analysts have varied opinions, with Piper Sandler maintaining an "overweight" rating and a $400 price target, while Mizuho lowered its target to $375. Tesla's stock rose to $426.07, with a market cap of $1.42 trillion. The company reported $22.50 billion in revenue for the last quarter, missing expectations. Insider trading activity included significant sales by Director James R. Murdoch and CFO Vaibhav Taneja. Hedge funds have also increased their stakes in Tesla recently.
Tesla (NASDAQ:TSLA - Get Free Report) was upgraded by research analysts at Baird R W from a "hold" rating to a "strong-buy" rating in a research report issued on Friday,Zacks.com reports.
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Several other analysts have also issued reports on TSLA. Piper Sandler restated an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Mizuho reduced their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Dbs Bank boosted their price objective on Tesla from $300.00 to $450.00 in a research report on Wednesday. Stifel Nicolaus set a $440.00 price target on Tesla in a report on Friday, September 5th. Finally, Guggenheim restated a "sell" rating and set a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $317.70.
View Our Latest Stock Analysis on TSLA
Tesla Price Performance
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TSLA traded up $9.22 on Friday, hitting $426.07. 92,721,496 shares of the company's stock were exchanged, compared to its average volume of 86,324,392. Tesla has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $340.68 and a 200-day moving average price of $308.15. The stock has a market cap of $1.42 trillion, a price-to-earnings ratio of 246.28, a P/E/G ratio of 14.54 and a beta of 2.06.
Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The firm's revenue was down 11.8% on a year-over-year basis. As a group, equities analysts anticipate that Tesla will post 2.56 earnings per share for the current year.
Insider Buying and Selling at Tesla
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In other news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 in the last 90 days. 20.70% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in Tesla during the 2nd quarter valued at $11,839,824,000. Goldman Sachs Group Inc. raised its stake in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC bought a new stake in shares of Tesla in the 1st quarter worth $3,247,619,000. GAMMA Investing LLC raised its stake in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after buying an additional 9,776,607 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC raised its stake in shares of Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock worth $2,044,683,000 after buying an additional 6,435,598 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.
Tesla Company Profile
(Get Free Report)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.
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