Tesla (NASDAQ:TSLA) Earns Sell Rating from Analysts at Tudor, Pickering, Holt & Co.

Tudor, Pickering, Holt & Co. began coverage on shares of Tesla (NASDAQ:TSLA) in a research note published on Thursday, Analyst Ratings Network reports. The firm issued a sell rating and a $537.00 price target on the electric vehicle producer’s stock.

A number of other equities research analysts also recently weighed in on TSLA. Wells Fargo & Company raised their price target on Tesla from $590.00 to $660.00 and gave the company an equal weight rating in a research report on Tuesday, July 27th. Canaccord Genuity reduced their price objective on Tesla from $812.00 to $768.00 and set a buy rating on the stock in a research note on Tuesday, July 27th. JPMorgan Chase & Co. raised their price objective on Tesla from $155.00 to $160.00 and gave the company an underweight rating in a research note on Wednesday, July 7th. DZ Bank raised Tesla from a sell rating to a buy rating and set a $750.00 price objective on the stock in a research note on Thursday, July 29th. Finally, Royal Bank of Canada raised their price objective on Tesla from $718.00 to $745.00 and gave the company a sector perform rating in a research note on Tuesday, July 27th. Nine equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $601.22.

NASDAQ TSLA opened at $774.39 on Thursday. The stock’s 50-day simple moving average is $710.50 and its two-hundred day simple moving average is $674.03. Tesla has a twelve month low of $379.11 and a twelve month high of $900.40. The company has a quick ratio of 1.22, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $766.66 billion, a price-to-earnings ratio of 403.33, a PEG ratio of 6.20 and a beta of 1.95.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Sunday, July 25th. The electric vehicle producer reported $1.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.93. Tesla had a return on equity of 9.75% and a net margin of 5.21%. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.39 billion. During the same quarter last year, the business posted $0.44 earnings per share. On average, equities analysts expect that Tesla will post 3.39 earnings per share for the current fiscal year.

In related news, CAO Vaibhav Taneja sold 4,459 shares of the business’s stock in a transaction that occurred on Tuesday, July 6th. The shares were sold at an average price of $661.59, for a total value of $2,950,029.81. Following the completion of the transaction, the chief accounting officer now directly owns 19,721 shares in the company, valued at approximately $13,047,216.39. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 1,500 shares of the business’s stock in a transaction on Monday, June 28th. The shares were sold at an average price of $671.64, for a total transaction of $1,007,460.00. Following the sale, the senior vice president now owns 19,567 shares of the company’s stock, valued at $13,141,979.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,652 shares of company stock valued at $64,928,197. 25.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in TSLA. Milestone Resources Group Ltd grew its position in shares of Tesla by 56.0% during the 2nd quarter. Milestone Resources Group Ltd now owns 39 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 14 shares during the period. Clean Yield Group bought a new stake in shares of Tesla during the 2nd quarter valued at $31,000. Lake Point Wealth Management bought a new stake in shares of Tesla during the 2nd quarter valued at $31,000. Baldrige Asset Management LLC bought a new stake in shares of Tesla during the 2nd quarter valued at $33,000. Finally, Lee Financial Co grew its position in shares of Tesla by 53.1% during the 2nd quarter. Lee Financial Co now owns 49 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 17 shares during the period. Institutional investors and hedge funds own 40.28% of the company’s stock.

Tesla Company Profile

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage.

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