Oppenheimer Reaffirms “Market Perform” Rating for Tesla (NASDAQ:TSLA)

Oppenheimer restated their market perform rating on shares of Tesla (NASDAQ:TSLA) in a report issued on Monday, Benzinga reports.

A number of other research firms have also issued reports on TSLA. Guggenheim increased their price target on shares of Tesla from $125.00 to $132.00 and gave the stock a sell rating in a research report on Friday, December 15th. China Renaissance started coverage on shares of Tesla in a research note on Monday, February 26th. They issued a hold rating on the stock. Redburn Atlantic assumed coverage on shares of Tesla in a report on Wednesday, January 24th. They set a sell rating and a $170.00 price target for the company. UBS Group decreased their target price on Tesla from $225.00 to $165.00 and set a neutral rating for the company in a research note on Thursday, March 14th. Finally, Mizuho reaffirmed a neutral rating and issued a $195.00 target price (down previously from $270.00) on shares of Tesla in a report on Monday. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $207.04.

Tesla Stock Up 1.2 %

Shares of Tesla stock opened at $179.83 on Monday. Tesla has a 12-month low of $152.37 and a 12-month high of $299.29. The firm has a market capitalization of $572.72 billion, a PE ratio of 41.72, a price-to-earnings-growth ratio of 3.90 and a beta of 2.41. 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 stock’s fifty day moving average is $188.49 and its 200-day moving average is $222.36.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the company posted $1.07 earnings per share. Tesla’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities analysts anticipate that Tesla will post 2.44 earnings per share for the current year.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’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 value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold 198,598 shares of company stock valued at $36,952,434 over the last 90 days. 20.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

Hedge funds and other institutional investors have recently made changes to their positions in the company. Contravisory Investment Management Inc. bought a new position in shares of Tesla in the 3rd quarter valued at about $25,000. Wyrmwood Management LLC bought a new position in Tesla during the fourth quarter worth about $25,000. Lam Group Inc. acquired a new position in Tesla during the fourth quarter worth approximately $25,000. Alpha Paradigm Partners LLC bought a new stake in Tesla in the third quarter valued at approximately $27,000. Finally, Halpern Financial Inc. boosted its stake in shares of Tesla by 1,111.1% during the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is owned by institutional investors.

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.