Tesla Inc. (TSLA) Bond Prices Rise 1.8%
An issue of Tesla Inc. (NASDAQ:TSLA) bonds rose 1.8% against their face value during trading on Friday. The high-yield issue of debt has a 5.3% coupon and will mature on August 15, 2025. The debt is now trading at $97.00 and was trading at $94.00 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price.
A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein set a $265.00 price target on shares of Tesla and gave the company a “neutral” rating in a report on Wednesday, September 20th. Berenberg Bank restated a “buy” rating on shares of Tesla in a report on Thursday, August 3rd. Vetr upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $372.51 price target on the stock in a report on Thursday, August 10th. Jefferies Group LLC started coverage on shares of Tesla in a report on Tuesday, September 19th. They set an “underperform” rating and a $280.00 price target on the stock. They noted that the move was a valuation call. Finally, Instinet started coverage on shares of Tesla in a research report on Wednesday, October 4th. They set a “buy” rating and a $500.00 price objective on the stock. Ten analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $330.28.
Shares of Tesla Inc. (NASDAQ TSLA) traded up $2.55 during mid-day trading on Friday, hitting $315.05. 13,682,753 shares of the stock were exchanged, compared to its average volume of 6,723,802. Tesla Inc. has a 52 week low of $180.00 and a 52 week 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 announced its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.09) by $0.17. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The business’s revenue was up 29.9% on a year-over-year basis. equities research analysts forecast that Tesla Inc. will post -11.38 earnings per share for the current year.
In other news, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $355.20, for a total value of $777,888.00. Following the sale, the director now owns 158,584 shares of the company’s stock, valued at approximately $56,329,036.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen T. Jurvetson sold 44,777 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 36,111 shares in the company, valued at approximately $12,290,739.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,518 shares of company stock valued at $18,819,611. Corporate insiders own 23.10% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Tesla by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock worth $2,251,890,000 after acquiring an additional 292,602 shares during the last quarter. Capital World Investors grew its holdings in Tesla by 0.6% during the 2nd quarter. Capital World Investors now owns 3,016,552 shares of the electric vehicle producer’s stock worth $1,090,815,000 after acquiring an additional 17,452 shares during the last quarter. Jennison Associates LLC grew its holdings in Tesla by 4.3% during the 2nd quarter. Jennison Associates LLC now owns 3,002,685 shares of the electric vehicle producer’s stock worth $1,085,801,000 after acquiring an additional 124,511 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its holdings in Tesla by 0.4% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 692,792 shares of the electric vehicle producer’s stock worth $250,521,000 after acquiring an additional 2,754 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Tesla by 126.6% during the 3rd quarter. Janus Henderson Group PLC now owns 547,072 shares of the electric vehicle producer’s stock worth $186,601,000 after acquiring an additional 305,596 shares during the last quarter. 56.36% of the stock is currently owned by hedge funds and other institutional investors.
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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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