Wedbush Reiterates Outperform Rating for Tesla (NASDAQ:TSLA)

Wedbush reissued their outperform rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Friday, Benzinga reports. The brokerage currently has a $300.00 target price on the electric vehicle producer’s stock.

TSLA has been the subject of several other research reports. TD Cowen lowered their target price on shares of Tesla from $200.00 to $180.00 and set a market perform rating for the company in a research note on Thursday, January 25th. Morgan Stanley lowered their target price on shares of Tesla from $320.00 to $310.00 and set an overweight rating for the company in a research note on Thursday, April 4th. The Goldman Sachs Group lowered their target price on shares of Tesla from $190.00 to $175.00 and set a neutral rating for the company in a research note on Tuesday, April 9th. China Renaissance began coverage on shares of Tesla in a research note on Monday, February 26th. They set a hold rating for the company. Finally, KGI Securities reaffirmed a neutral rating and set a $213.00 target price (down previously from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of Hold and a consensus target price of $194.70.

Tesla Trading Down 3.4 %

Shares of TSLA opened at $142.05 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29. The firm has a 50-day moving average price of $177.59 and a 200 day moving average price of $210.05. The firm has a market capitalization of $452.40 billion, a P/E ratio of 32.96, a P/E/G ratio of 3.89 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 EPS. Sell-side analysts forecast that Tesla will post 1.97 EPS for the current year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock worth $38,802,534 over the last 90 days. 25.10% of the stock is owned by insiders.

Institutional Trading of Tesla

Several institutional investors have recently modified their holdings of TSLA. International Assets Investment Management LLC increased its holdings in shares of Tesla by 8.6% in the 3rd quarter. International Assets Investment Management LLC now owns 23,774 shares of the electric vehicle producer’s stock valued at $5,718,000 after acquiring an additional 1,887 shares during the period. DnB Asset Management AS increased its holdings in shares of Tesla by 4.5% in the 3rd quarter. DnB Asset Management AS now owns 754,573 shares of the electric vehicle producer’s stock valued at $188,809,000 after acquiring an additional 32,763 shares during the period. TB Alternative Assets Ltd. increased its holdings in shares of Tesla by 703.4% in the 3rd quarter. TB Alternative Assets Ltd. now owns 47,400 shares of the electric vehicle producer’s stock valued at $11,860,000 after acquiring an additional 41,500 shares during the period. Avidian Wealth Solutions LLC increased its holdings in shares of Tesla by 9.0% in the 3rd quarter. Avidian Wealth Solutions LLC now owns 6,364 shares of the electric vehicle producer’s stock valued at $1,592,000 after acquiring an additional 524 shares during the period. Finally, Tennessee Valley Asset Management Partners increased its holdings in shares of Tesla by 16.2% in the 3rd quarter. Tennessee Valley Asset Management Partners now owns 2,701 shares of the electric vehicle producer’s stock valued at $676,000 after acquiring an additional 376 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.