Tesla Inc. (TSLA) Given “Outperform” Rating at Robert W. Baird
Robert W. Baird reaffirmed their outperform rating on shares of Tesla Inc. (NASDAQ:TSLA) in a research report released on Wednesday, May 24th. Robert W. Baird currently has a $368.00 price target on the electric vehicle producer’s stock.
Several other research firms have also recently weighed in on TSLA. Pacific Crest reaffirmed an equal weight rating on shares of Tesla in a research report on Thursday, March 30th. Oppenheimer Holdings, Inc. reaffirmed a market perform rating on shares of Tesla in a research report on Friday, February 24th. Zacks Investment Research raised shares of Tesla from a sell rating to a hold rating in a research report on Tuesday, February 28th. Vetr raised shares of Tesla from a sell rating to a hold rating and set a $251.51 price objective for the company in a research report on Thursday, February 23rd. Finally, Deutsche Bank AG reaffirmed a hold rating and set a $215.00 price objective on shares of Tesla in a research report on Friday, February 24th. Eight research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company. Tesla presently has a consensus rating of Hold and an average price target of $288.17.
Tesla (NASDAQ TSLA) traded down 1.05% during trading on Wednesday, hitting $371.40. 6,730,973 shares of the stock were exchanged. Tesla has a 52 week low of $178.19 and a 52 week high of $384.25. The stock’s market capitalization is $61.01 billion. The firm has a 50-day moving average of $331.64 and a 200-day moving average of $271.08.
Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $1.30. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.56 billion. Tesla had a negative net margin of 8.46% and a negative return on equity of 17.13%. Equities research analysts anticipate that Tesla will post ($5.80) earnings per share for the current fiscal year.
In other news, Director Kimbal Musk sold 2,500 shares of Tesla stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $315.67, for a total transaction of $789,175.00. Following the completion of the sale, the director now owns 168,355 shares in the company, valued at approximately $53,144,622.85. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP John Douglas Field sold 500 shares of Tesla stock in a transaction dated Friday, April 7th. The shares were sold at an average price of $301.45, for a total value of $150,725.00. The disclosure for this sale can be found here. Insiders have sold a total of 242,791 shares of company stock valued at $74,745,344 in the last ninety days. Insiders own 23.10% of the company’s stock.
Several hedge funds have recently modified their holdings of TSLA. FMR LLC increased its stake in shares of Tesla by 13.3% in the fourth quarter. FMR LLC now owns 22,050,401 shares of the electric vehicle producer’s stock worth $4,711,950,000 after buying an additional 2,582,730 shares during the period. Baillie Gifford & Co. increased its stake in shares of Tesla by 3.5% in the fourth quarter. Baillie Gifford & Co. now owns 13,289,548 shares of the electric vehicle producer’s stock worth $2,839,843,000 after buying an additional 454,467 shares during the period. Norges Bank acquired a new stake in shares of Tesla during the fourth quarter worth about $94,658,000. Renaissance Technologies LLC increased its stake in shares of Tesla by 117.7% in the first quarter. Renaissance Technologies LLC now owns 677,792 shares of the electric vehicle producer’s stock worth $188,630,000 after buying an additional 366,400 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Tesla by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock worth $1,651,654,000 after buying an additional 280,941 shares during the period. Hedge funds and other institutional investors own 63.78% 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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