Tesla Inc. (NASDAQ:TSLA)‘s stock had its “hold” rating restated by research analysts at Deutsche Bank AG in a research note issued on Tuesday. They currently have a $320.00 price target on the electric vehicle producer’s stock, up from their previous price target of $240.00. Deutsche Bank AG’s price target points to a potential downside of 7.12% from the stock’s previous close.

Other analysts have also issued research reports about the company. Berenberg Bank raised Tesla from a “hold” rating to a “buy” rating and boosted their price target for the company from $193.00 to $464.00 in a report on Tuesday, June 13th. Robert W. Baird restated an “outperform” rating and issued a $368.00 target price on shares of Tesla in a research note on Tuesday, June 20th. Argus upgraded Tesla from a “hold” rating to a “buy” rating and raised their target price for the stock from $355.17 to $444.00 in a research note on Tuesday, August 8th. Vetr lowered Tesla from a “strong-buy” rating to a “buy” rating and set a $358.85 target price for the company. in a research note on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $180.00 target price (down previously from $190.00) on shares of Tesla in a research note on Monday, July 31st. Eight research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $313.70.

Shares of Tesla (NASDAQ:TSLA) opened at 344.53 on Tuesday. The company has a 50-day moving average price of $346.35 and a 200-day moving average price of $318.80. The stock’s market capitalization is $57.50 billion. Tesla has a 52-week low of $178.19 and a 52-week high of $386.99.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, beating analysts’ consensus estimates of ($2.00) by $0.67. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. Tesla’s revenue for the quarter was up 119.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.06) earnings per share. On average, equities analysts anticipate that Tesla will post ($6.18) earnings per share for the current year.

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In other news, Director Stephen T. Jurvetson sold 44,777 shares of Tesla stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the sale, the director now owns 36,111 shares of the company’s stock, valued at approximately $12,290,739.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kimbal Musk sold 4,690 shares of Tesla stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the sale, the director now directly owns 166,164 shares in the company, valued at approximately $61,095,179.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,847 shares of company stock worth $18,446,385. Corporate insiders own 23.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC raised its position in shares of Tesla by 0.4% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 987 shares of the electric vehicle producer’s stock valued at $309,000 after buying an additional 4 shares during the period. North Star Investment Management Corp. raised its position in shares of Tesla by 2.8% during the 2nd quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after buying an additional 9 shares during the period. Cornerstone Advisors Inc. raised its position in shares of Tesla by 2.3% during the 2nd quarter. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer’s stock valued at $145,000 after buying an additional 9 shares during the period. Clarius Group LLC raised its position in shares of Tesla by 0.3% during the 1st quarter. Clarius Group LLC now owns 4,625 shares of the electric vehicle producer’s stock valued at $1,287,000 after buying an additional 16 shares during the period. Finally, Sterling Investment Advisors Ltd. raised its position in shares of Tesla by 2.2% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 853 shares of the electric vehicle producer’s stock valued at $308,000 after buying an additional 18 shares during the period. 56.67% of the stock is currently owned by hedge funds and other institutional investors.

About Tesla

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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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