Tesla’s (TSLA) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Tesla (NASDAQ:TSLA) in a report published on Monday morning, Benzinga reports. They currently have a $205.00 price target on the electric vehicle producer’s stock.

Several other equities analysts have also recently commented on the stock. Oppenheimer reaffirmed a market perform rating on shares of Tesla in a research note on Tuesday, April 2nd. Barclays reduced their price objective on shares of Tesla from $225.00 to $180.00 and set an equal weight rating for the company in a research note on Wednesday, April 17th. Jefferies Financial Group reduced their price objective on shares of Tesla from $185.00 to $165.00 and set a hold rating for the company in a research note on Wednesday, April 10th. 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, JPMorgan Chase & Co. reduced their price objective on shares of Tesla from $130.00 to $115.00 and set an underweight rating for the company in a research note on Wednesday, April 3rd. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $186.22.

Tesla Stock Performance

NASDAQ TSLA opened at $162.13 on Monday. The company’s 50 day moving average is $176.28 and its 200-day moving average is $208.91. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The firm has a market cap of $516.35 billion, a P/E ratio of 37.62, a price-to-earnings-growth ratio of 3.75 and a beta of 2.39.

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

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated 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 directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated 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 sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 in the last three months. 20.90% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

A number of institutional investors have recently made changes to their positions in the stock. Intergy Private Wealth LLC boosted its holdings in shares of Tesla by 13.7% during the 1st quarter. Intergy Private Wealth LLC now owns 1,397 shares of the electric vehicle producer’s stock valued at $246,000 after acquiring an additional 168 shares during the last quarter. Leavell Investment Management Inc. boosted its holdings in shares of Tesla by 18.3% during the 1st quarter. Leavell Investment Management Inc. now owns 11,977 shares of the electric vehicle producer’s stock valued at $2,161,000 after acquiring an additional 1,855 shares during the last quarter. PSI Advisors LLC boosted its holdings in shares of Tesla by 8.0% during the 1st quarter. PSI Advisors LLC now owns 7,203 shares of the electric vehicle producer’s stock valued at $1,266,000 after acquiring an additional 533 shares during the last quarter. Axim Planning & Wealth purchased a new stake in shares of Tesla during the 1st quarter valued at about $215,000. Finally, CENTRAL TRUST Co boosted its holdings in shares of Tesla by 10.6% during the 1st quarter. CENTRAL TRUST Co now owns 19,053 shares of the electric vehicle producer’s stock valued at $3,349,000 after acquiring an additional 1,828 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

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.