Jefferies Group LLC Initiates Coverage on Tesla Inc. (TSLA)
Analysts at Jefferies Group LLC initiated coverage on shares of Tesla Inc. (NASDAQ:TSLA) in a report issued on Tuesday. The firm set an “underperform” rating on the electric vehicle producer’s stock.
A number of other analysts have also recently weighed in on the stock. Robert W. Baird reissued an “outperform” rating and issued a $411.00 target price on shares of Tesla in a research note on Monday. Sanford C. Bernstein reissued a “hold” rating and issued a $265.00 target price on shares of Tesla in a research note on Thursday, September 14th. Barclays PLC reissued an “underweight” rating and issued a $210.00 target price (up previously from $165.00) on shares of Tesla in a research note on Wednesday, September 13th. Morgan Stanley reissued a “hold” rating and issued a $317.00 target price on shares of Tesla in a research note on Thursday, September 7th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $320.00 target price (up previously from $240.00) on shares of Tesla in a research note on Tuesday, September 5th. Nine analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $315.31.
Tesla (TSLA) opened at 385.00 on Tuesday. Tesla has a one year low of $178.19 and a one year high of $389.61. The company’s market cap is $64.25 billion. The firm has a 50-day moving average of $353.49 and a 200-day moving average of $325.10.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the firm posted ($1.06) EPS. The business’s revenue was up 119.6% compared to the same quarter last year. On average, analysts predict that Tesla will post ($6.26) EPS for the current year.
In related news, VP Eric Branderiz sold 99 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total value of $34,661.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 4,690 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 166,164 shares of the company’s stock, valued at approximately $61,095,179.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,946 shares of company stock valued at $18,481,047. 23.10% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in TSLA. FMR LLC grew its position in Tesla by 10.9% in the first quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock valued at $6,804,556,000 after purchasing an additional 2,400,034 shares in the last quarter. Renaissance Technologies LLC grew its position in Tesla by 117.7% in the first quarter. Renaissance Technologies LLC now owns 677,792 shares of the electric vehicle producer’s stock valued at $188,630,000 after purchasing an additional 366,400 shares in the last quarter. Baillie Gifford & Co. grew its position in Tesla by 2.5% in the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock valued at $3,792,025,000 after purchasing an additional 336,130 shares in the last quarter. Vanguard Group Inc. grew its position in Tesla by 4.9% in the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock valued at $2,251,890,000 after purchasing an additional 292,602 shares in the last quarter. Finally, Whale Rock Capital Management LLC bought a new position in Tesla in the second quarter valued at $66,601,000. 56.63% of the stock is owned by institutional investors and hedge funds.
Tesla Company Profile
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.
Receive News & Stock Ratings for Tesla Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla Inc. and related stocks with our FREE daily email newsletter.