Tesla Inc (TSLA) Given Overweight Rating at Morgan Stanley
Tesla Inc (NASDAQ:TSLA)‘s stock had its “overweight” rating reiterated by Morgan Stanley in a report issued on Saturday. They currently have a $305.00 price target on the electric vehicle producer’s stock. Morgan Stanley’s target price suggests a potential downside of 0.20% from the company’s current price.
Other equities research analysts have also recently issued research reports about the stock. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Tesla in a research report on Wednesday, November 30th. Vetr raised shares of Tesla from a “sell” rating to a “hold” rating and set a $201.47 target price for the company in a research report on Wednesday, December 21st. Sanford C. Bernstein reissued a “hold” rating and issued a $250.00 target price on shares of Tesla in a research report on Monday, March 20th. Zacks Investment Research raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Tuesday, February 28th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $215.00 target price on shares of Tesla in a research report on Friday, February 24th. Eight analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $266.42.
Shares of Tesla (NASDAQ:TSLA) traded up 1.02% during mid-day trading on Friday, hitting $305.60. 4,504,052 shares of the stock traded hands. The stock has a 50-day moving average of $274.79 and a 200-day moving average of $232.49. Tesla has a 52 week low of $178.19 and a 52 week high of $313.73. The company’s market cap is $49.41 billion.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, February 22nd. The electric vehicle producer reported ($0.69) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by $0.26. Tesla had a negative net margin of 14.74% and a negative return on equity of 29.17%. The company earned $2.29 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the firm earned ($0.87) earnings per share. Tesla’s revenue for the quarter was up 88.2% on a year-over-year basis. Analysts anticipate that Tesla will post ($1.63) EPS for the current year.
In related news, VP John Douglas Field sold 500 shares of the stock in a transaction on Friday, April 7th. The stock was sold at an average price of $301.45, for a total value of $150,725.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kimbal Musk sold 2,191 shares of the stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $312.11, for a total value of $683,833.01. Following the completion of the transaction, the director now owns 166,640 shares in the company, valued at $52,010,010.40. The disclosure for this sale can be found here. Insiders have sold a total of 16,391 shares of company stock worth $4,399,594 over the last 90 days. Company insiders own 27.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Advisory Services Network LLC boosted its position in shares of Tesla by 14.5% in the third quarter. Advisory Services Network LLC now owns 489 shares of the electric vehicle producer’s stock worth $100,000 after buying an additional 62 shares in the last quarter. Reilly Financial Advisors LLC boosted its position in shares of Tesla by 92.9% in the third quarter. Reilly Financial Advisors LLC now owns 492 shares of the electric vehicle producer’s stock worth $100,000 after buying an additional 237 shares in the last quarter. Independent Advisor Alliance purchased a new position in shares of Tesla during the fourth quarter worth about $102,000. Parallel Advisors LLC purchased a new position in shares of Tesla during the fourth quarter worth about $104,000. Finally, Cable Hill Partners LLC boosted its position in shares of Tesla by 36.1% in the third quarter. Cable Hill Partners LLC now owns 693 shares of the electric vehicle producer’s stock worth $139,000 after buying an additional 184 shares in the last quarter. Institutional investors own 57.29% of the company’s stock.
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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