Tesla Inc. (TSLA) Bond Prices Fall 1.8%
An issue of Tesla Inc. (NASDAQ:TSLA) bonds fell 1.8% against their face value during trading on Tuesday. The high-yield issue of debt has a 5.3% coupon and will mature on August 15, 2025. The debt is now trading at $97.50 and was trading at $98.57 one week ago. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.
Several equities analysts have issued reports on the company. Berenberg Bank upgraded Tesla from a “hold” rating to a “buy” rating and boosted their target price for the stock from $193.00 to $464.00 in a research report on Tuesday, June 13th. Robert W. Baird reiterated an “outperform” rating and set a $368.00 target price on shares of Tesla in a research report on Tuesday, June 20th. Argus upgraded Tesla from a “hold” rating to a “buy” rating and boosted their target price for the stock from $355.17 to $444.00 in a research report on Tuesday, August 8th. Vetr cut Tesla from a “strong-buy” rating to a “buy” rating and set a $358.85 target price on the stock. in a research report on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $180.00 target price (down previously from $190.00) on shares of Tesla in a research report on Monday, July 31st. Ten research analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the company’s stock. Tesla presently has an average rating of “Hold” and an average price target of $324.87.
Tesla Inc. (TSLA) opened at 355.01 on Thursday. Tesla Inc. has a 52-week low of $178.19 and a 52-week high of $389.61. The firm has a 50-day moving average of $354.26 and a 200-day moving average of $333.21. The stock’s market capitalization is $59.25 billion.
Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping the consensus estimate of ($2.00) by $0.67. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The business’s quarterly revenue was up 119.6% on a year-over-year basis. During the same quarter last year, the firm posted ($1.06) EPS. On average, equities analysts expect that Tesla Inc. will post ($6.28) EPS for the current year.
In related news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total value of $703,778.40. Following the transaction, the director now owns 160,274 shares in the company, valued at approximately $51,505,652.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen T. Jurvetson sold 44,777 shares of Tesla stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the completion of the transaction, the director now owns 36,111 shares in the company, valued at approximately $12,290,739.96. The disclosure for this sale can be found here. Insiders sold a total of 51,446 shares of company stock worth $17,504,929 in the last quarter. Insiders own 23.10% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Eqis Capital Management Inc. increased its holdings in shares of Tesla by 10.1% during the 3rd quarter. Eqis Capital Management Inc. now owns 2,850 shares of the electric vehicle producer’s stock worth $972,000 after purchasing an additional 261 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of Tesla by 78.9% during the 2nd quarter. Lord Abbett & CO. LLC now owns 152,146 shares of the electric vehicle producer’s stock worth $55,018,000 after purchasing an additional 67,120 shares during the period. WFG Advisors LP increased its holdings in shares of Tesla by 106.8% during the 2nd quarter. WFG Advisors LP now owns 457 shares of the electric vehicle producer’s stock worth $165,000 after purchasing an additional 236 shares during the period. Toronto Dominion Bank increased its holdings in shares of Tesla by 12.3% during the 2nd quarter. Toronto Dominion Bank now owns 1,582 shares of the electric vehicle producer’s stock worth $572,000 after purchasing an additional 173 shares during the period. Finally, Rikoon Group LLC increased its holdings in shares of Tesla by 7.8% during the 2nd quarter. Rikoon Group LLC now owns 691 shares of the electric vehicle producer’s stock worth $249,000 after purchasing an additional 50 shares during the period. Institutional investors own 56.63% of the company’s stock.
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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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