Tesla Motors Inc. (TSLA) Given Hold Rating at Berenberg Bank
Berenberg Bank reissued their hold rating on shares of Tesla Motors Inc. (NASDAQ:TSLA) in a research note published on Monday. Berenberg Bank currently has a $193.00 price objective on the electric vehicle producer’s stock.
Other research analysts have also issued research reports about the company. Robert W. Baird set a $338.00 price objective on Tesla Motors and gave the stock a buy rating in a report on Saturday, November 19th. Dougherty & Co reissued a buy rating and set a $500.00 price objective on shares of Tesla Motors in a report on Thursday, October 27th. Standpoint Research reissued a hold rating and set a $180.00 price objective on shares of Tesla Motors in a report on Thursday, October 27th. Citigroup Inc. reissued an underweight rating on shares of Tesla Motors in a report on Friday, October 21st. Finally, Vetr raised Tesla Motors from a hold rating to a buy rating and set a $201.86 price objective for the company in a report on Tuesday, November 1st. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $250.47.
Tesla Motors (NASDAQ:TSLA) opened at 196.12 on Monday. Tesla Motors has a one year low of $141.05 and a one year high of $269.34. The company’s market cap is $29.40 billion. The company has a 50-day moving average of $194.21 and a 200-day moving average of $210.21.
Tesla Motors (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 26th. The electric vehicle producer reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $1.25. The business earned $2.30 billion during the quarter, compared to analyst estimates of $2.33 billion. Tesla Motors had a negative return on equity of 29.17% and a negative net margin of 14.74%. The company’s quarterly revenue was up 145.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.58) EPS. Equities research analysts expect that Tesla Motors will post ($2.04) EPS for the current fiscal year.
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In related news, insider Jeffrey B. Straubel sold 33,430 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $190.82, for a total transaction of $6,379,112.60. Following the transaction, the insider now directly owns 359,655 shares in the company, valued at approximately $68,629,367.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kimbal Musk sold 2,779 shares of the business’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $197.60, for a total value of $549,130.40. Following the transaction, the director now owns 154,644 shares in the company, valued at $30,557,654.40. The disclosure for this sale can be found here. 27.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in TSLA. Baillie Gifford & Co. increased its position in shares of Tesla Motors by 9.5% in the second quarter. Baillie Gifford & Co. now owns 13,066,791 shares of the electric vehicle producer’s stock valued at $2,773,818,000 after buying an additional 1,137,759 shares during the period. Vanguard Group Inc. increased its position in shares of Tesla Motors by 13.4% in the second quarter. Vanguard Group Inc. now owns 4,894,369 shares of the electric vehicle producer’s stock valued at $1,038,976,000 after buying an additional 578,459 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Tesla Motors by 578.7% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 281,004 shares of the electric vehicle producer’s stock valued at $57,333,000 after buying an additional 239,600 shares during the period. State Treasurer State of Michigan increased its position in shares of Tesla Motors by 224.0% in the second quarter. State Treasurer State of Michigan now owns 339,623 shares of the electric vehicle producer’s stock valued at $72,095,000 after buying an additional 234,802 shares during the period. Finally, Blue Ridge Capital L.L.C. acquired a new position in shares of Tesla Motors during the second quarter valued at $40,596,000. Hedge funds and other institutional investors own 60.93% of the company’s stock.
About Tesla Motors
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
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