Tesla Motors Inc. (TSLA) Upgraded to Buy at Vetr Inc.
Vetr upgraded shares of Tesla Motors Inc. (NASDAQ:TSLA) from a hold rating to a buy rating in a report issued on Tuesday morning. The firm currently has $197.97 price target on the electric vehicle producer’s stock.
Other equities 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 research report on Saturday, November 19th. Morgan Stanley restated an equal weight rating and set a $245.00 price objective on shares of Tesla Motors in a research report on Wednesday, August 3rd. Pacific Crest restated a hold rating on shares of Tesla Motors in a research report on Thursday, October 27th. Global Equities Research restated a buy rating and set a $385.00 price objective on shares of Tesla Motors in a research report on Thursday, October 27th. Finally, Standpoint Research restated a hold rating and set a $180.00 price objective on shares of Tesla Motors in a research report on Thursday, October 27th. Eight investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. Tesla Motors currently has an average rating of Hold and a consensus price target of $250.38.
Shares of Tesla Motors (NASDAQ:TSLA) opened at 189.57 on Tuesday. The firm has a 50 day moving average price of $194.21 and a 200 day moving average price of $210.21. Tesla Motors has a one year low of $141.05 and a one year high of $269.34. The company’s market capitalization is $28.41 billion.
Tesla Motors (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 26th. The electric vehicle producer reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.25. The business had revenue of $2.30 billion for 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%. Tesla Motors’s quarterly revenue was up 145.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.58) EPS. On average, equities research analysts predict that Tesla Motors will post ($2.04) EPS for the current fiscal year.
In other Tesla Motors news, Director Kimbal Musk sold 2,779 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $197.60, for a total value of $549,130.40. Following the sale, the director now owns 154,644 shares in the company, valued at approximately $30,557,654.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the insider now owns 359,655 shares in the company, valued at approximately $68,629,367.10. The disclosure for this sale can be found here. 27.70% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors LLC bought a new stake in shares of Tesla Motors during the third quarter valued at approximately $4,915,000. Cable Hill Partners LLC boosted its stake in shares of Tesla Motors by 36.1% in the third quarter. Cable Hill Partners LLC now owns 693 shares of the electric vehicle producer’s stock valued at $139,000 after buying an additional 184 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Tesla Motors by 2.9% in the third quarter. Ameritas Investment Partners Inc. now owns 2,680 shares of the electric vehicle producer’s stock valued at $547,000 after buying an additional 76 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Tesla Motors by 5.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,600 shares of the electric vehicle producer’s stock valued at $735,000 after buying an additional 200 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd bought a new stake in shares of Tesla Motors during the third quarter valued at approximately $254,000. Institutional investors and hedge funds own 60.93% of the company’s stock.
Tesla Motors Company Profile
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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