Tesla Inc (TSLA) Receives Average Recommendation of “Hold” from Brokerages
Tesla Inc (NASDAQ:TSLA) has received an average recommendation of “Hold” from the forty analysts that are currently covering the company, MarketBeat reports. Fifteen equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $310.10.
A number of research firms recently commented on TSLA. Goldman Sachs Group reaffirmed a “sell” rating and set a $225.00 price target on shares of Tesla in a research report on Tuesday, December 18th. BidaskClub lowered shares of Tesla from a “buy” rating to a “hold” rating in a report on Tuesday, December 18th. Zacks Investment Research lowered shares of Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, December 31st. Royal Bank of Canada reissued a “sell” rating and issued a $245.00 target price on shares of Tesla in a report on Wednesday, February 6th. Finally, KeyCorp restated a “hold” rating on shares of Tesla in a research note on Thursday, December 20th.
Shares of NASDAQ TSLA traded down $1.32 during mid-day trading on Monday, reaching $266.38. 9,916,617 shares of the company were exchanged, compared to its average volume of 8,698,197. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.52 and a current ratio of 0.83. The stock has a market cap of $46.36 billion, a PE ratio of -46.57, a P/E/G ratio of 6.08 and a beta of 0.35. Tesla has a twelve month low of $247.77 and a twelve month high of $387.46.
In other news, insider Jeffrey B. Straubel sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $267.50, for a total value of $4,012,500.00. Following the transaction, the insider now owns 306,748 shares in the company, valued at approximately $82,055,090. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Antonio J. Gracias sold 16,780 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $275.92, for a total transaction of $4,629,937.60. Following the completion of the transaction, the director now owns 8,728 shares in the company, valued at approximately $2,408,229.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,820 shares of company stock worth $34,419,006. 22.80% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of TSLA. LPL Financial LLC lifted its position in shares of Tesla by 0.6% in the 3rd quarter. LPL Financial LLC now owns 38,765 shares of the electric vehicle producer’s stock worth $10,264,000 after purchasing an additional 227 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Tesla by 320.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,410 shares of the electric vehicle producer’s stock valued at $5,934,000 after acquiring an additional 17,080 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Tesla by 18.3% in the 3rd quarter. Pacer Advisors Inc. now owns 6,570 shares of the electric vehicle producer’s stock valued at $1,740,000 after acquiring an additional 1,015 shares in the last quarter. Vident Investment Advisory LLC bought a new stake in shares of Tesla in the 3rd quarter valued at $646,000. Finally, Worldquant Millennium Quantitative Strategies LLC bought a new stake in shares of Tesla in the 3rd quarter valued at $1,978,000. Hedge funds and other institutional investors own 59.50% of the company’s stock.
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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