Tesla Inc. (TSLA) Earns Hold Rating from KeyCorp
Other analysts also recently issued research reports about the company. Goldman Sachs Group, Inc. (The) boosted their target price on Tesla from $180.00 to $190.00 in a research report on Friday, August 4th. Berenberg Bank restated a buy rating on shares of Tesla in a research report on Thursday, August 3rd. Vetr cut Tesla from a strong-buy rating to a buy rating and set a $371.27 price target on the stock. in a research note on Monday, July 24th. Argus raised Tesla from a hold rating to a buy rating and lifted their price target for the stock from $355.17 to $444.00 in a research note on Tuesday, August 8th. Finally, Guggenheim reaffirmed a buy rating and issued a $430.00 price target on shares of Tesla in a research note on Thursday, August 10th. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $330.44.
Shares of Tesla (NASDAQ:TSLA) opened at $315.40 on Friday. Tesla has a 12-month low of $178.19 and a 12-month high of $389.61. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.
Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($3.09) by $0.17. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. Tesla’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS. analysts anticipate that Tesla will post -11.38 EPS for the current fiscal year.
In other news, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $355.20, for a total transaction of $777,888.00. Following the transaction, the director now directly owns 158,584 shares of the company’s stock, valued at $56,329,036.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stephen T. Jurvetson sold 44,777 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total value of $15,240,299.72. Following the transaction, the director now directly owns 36,111 shares in the company, valued at $12,290,739.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,782 shares of company stock worth $18,294,800. Corporate insiders own 23.10% of the company’s stock.
Large investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can increased its position in Tesla by 2.7% during the second quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock valued at $25,129,000 after acquiring an additional 1,802 shares during the last quarter. Main Street Research LLC purchased a new stake in Tesla during the second quarter valued at $602,000. CIBC World Markets Inc. increased its position in Tesla by 74.2% during the second quarter. CIBC World Markets Inc. now owns 10,575 shares of the electric vehicle producer’s stock valued at $3,824,000 after acquiring an additional 4,504 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Tesla during the second quarter valued at $681,000. Finally, Arrow Financial Corp increased its position in Tesla by 13.7% during the third quarter. Arrow Financial Corp now owns 9,338 shares of the electric vehicle producer’s stock valued at $3,186,000 after acquiring an additional 1,127 shares during the last quarter. 56.36% of the stock is currently owned by hedge funds and other institutional investors.
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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