Tesla Motors Inc (TSLA) Stock Rating Lowered by Vetr Inc.
Tesla Motors Inc (NASDAQ:TSLA) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday. They presently have a $251.52 price objective on the electric vehicle producer’s stock. Vetr‘s price target would suggest a potential upside of 11.73% from the company’s current price.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Trillium Asset Management LLC raised its position in shares of Tesla Motors by 193.1% in the fourth quarter. Trillium Asset Management LLC now owns 5,918 shares of the electric vehicle producer’s stock worth $1,420,000 after buying an additional 3,899 shares in the last quarter. Catawba Capital Management VA purchased a new position in shares of Tesla Motors during the fourth quarter worth $439,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tesla Motors by 11.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,668 shares of the electric vehicle producer’s stock worth $13,361,000 after buying an additional 5,853 shares in the last quarter. Magee Thomson Investment Partners LLC raised its position in shares of Tesla Motors by 1.1% in the fourth quarter. Magee Thomson Investment Partners LLC now owns 47,900 shares of the electric vehicle producer’s stock worth $11,496,000 after buying an additional 520 shares in the last quarter. Finally, Simplex Trading purchased a new position in shares of Tesla Motors during the fourth quarter worth $1,632,000.
In other news, Director Kimbal Musk sold 11,997 shares of the stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $232.71, for a total value of $2,791,821.87. Following the transaction, the director now directly owns 164,322 shares of the company’s stock, valued at $38,239,372.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brad W. Buss sold 15,333 shares of the stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $207.75, for a total value of $3,185,430.75. Following the completion of the transaction, the director now directly owns 9,215 shares in the company, valued at $1,914,416.25. The disclosure for this sale can be found here.
Tesla Motors (NASDAQ:TSLA) traded up 2.52% during midday trading on Thursday, hitting $225.12. 4,072,424 shares of the company were exchanged. Tesla Motors has a one year low of $141.05 and a one year high of $286.65. The stock’s market capitalization is $30.15 billion. The firm’s 50-day moving average price is $232.44 and its 200-day moving average price is $215.74.
Tesla Motors (NASDAQ:TSLA) last issued its earnings results on Wednesday, May 4th. The electric vehicle producer reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.04. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.61 billion. The firm’s revenue for the quarter was up 45.1% compared to the same quarter last year. During the same period last year, the business posted ($0.36) EPS. Equities research analysts anticipate that Tesla Motors will post $0.86 earnings per share for the current year.
Several other analysts also recently issued reports on the company. Morgan Stanley decreased their target price on Tesla Motors from $450.00 to $333.00 and set an “overweight” rating on the stock in a research note on Monday, February 1st. Goldman Sachs reissued a “buy” rating on shares of Tesla Motors in a research note on Thursday, March 31st. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $170.00 price objective (up previously from $155.00) on shares of Tesla Motors in a research note on Tuesday, April 19th. FBN Securities reaffirmed an “outperform” rating and issued a $325.00 price objective on shares of Tesla Motors in a research note on Tuesday, April 5th. Finally, Argus raised Tesla Motors from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $232.74 to $333.00 in a research note on Monday, March 21st. Seven analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Tesla Motors presently has an average rating of “Hold” and an average price target of $276.81.
Tesla Motors, Inc is a United States-based company, which designs, develops, manufactures and sells electric vehicles, electric vehicle powertrain components and stationary energy storage systems. The Company sells and produces a vehicle under the name Model S, which is a fully electric, four-door, five-adult passenger sedan.
To view Vetr’s full report, visit Vetr’s official website.
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