Standpoint Research cut shares of Tesla Inc. (NASDAQ:TSLA) from a hold rating to a sell rating in a report released on Wednesday.

Other research analysts have also issued reports about the stock. Goldman Sachs Group, Inc. (The) increased their target price on shares of Tesla from $180.00 to $190.00 in a research note on Friday, August 4th. Guggenheim restated a buy rating and set a $430.00 price objective (up previously from $380.00) on shares of Tesla in a report on Wednesday, July 5th. BidaskClub downgraded shares of Tesla from a strong-buy rating to a buy rating in a report on Tuesday, June 20th. Global Equities Research restated a buy rating and set a $385.00 price objective on shares of Tesla in a report on Tuesday, June 13th. Finally, Berenberg Bank upgraded shares of Tesla from a hold rating to a buy rating and upped their price objective for the stock from $193.00 to $464.00 in a report on Tuesday, June 13th. Ten investment 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. The stock presently has a consensus rating of Hold and an average target price of $324.87.

Shares of Tesla (NASDAQ TSLA) traded up 0.09% during midday trading on Wednesday, hitting $355.33. 4,117,266 shares of the company were exchanged. Tesla has a one year low of $178.19 and a one year high of $389.61. The firm’s 50 day moving average price is $354.26 and its 200 day moving average price is $333.21. The firm’s market capitalization is $59.30 billion.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. Tesla’s revenue was up 119.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.06) earnings per share. Analysts forecast that Tesla will post ($6.28) EPS for the current fiscal year.

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In related news, VP Eric Branderiz sold 99 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total value of $34,661.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total transaction of $703,778.40. Following the completion of the sale, the director now directly owns 160,274 shares in the company, valued at $51,505,652.64. The disclosure for this sale can be found here. Insiders sold 51,446 shares of company stock worth $17,504,929 over the last ninety days. 23.10% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC raised its stake in Tesla by 0.4% in the second quarter. Flagship Harbor Advisors LLC now owns 987 shares of the electric vehicle producer’s stock valued at $309,000 after purchasing an additional 4 shares in the last quarter. North Star Investment Management Corp. raised its stake in Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after purchasing an additional 9 shares in the last quarter. Cornerstone Advisors Inc. raised its stake in Tesla by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer’s stock valued at $145,000 after purchasing an additional 9 shares in the last quarter. Sterling Investment Advisors Ltd. raised its stake in Tesla by 2.2% in the second quarter. Sterling Investment Advisors Ltd. now owns 853 shares of the electric vehicle producer’s stock valued at $308,000 after purchasing an additional 18 shares in the last quarter. Finally, Gemmer Asset Management LLC raised its stake in Tesla by 2.6% in the second quarter. Gemmer Asset Management LLC now owns 779 shares of the electric vehicle producer’s stock valued at $282,000 after purchasing an additional 20 shares in the last quarter. 56.63% of the stock is currently 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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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