Tesla’s (TSLA) Outperform Rating Reiterated at Wedbush

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a research note issued to investors on Friday, Benzinga reports. They presently have a $300.00 price target on the electric vehicle producer’s stock. Wedbush’s target price points to a potential upside of 100.09% from the stock’s current price.

A number of other equities research analysts have also issued reports on TSLA. UBS Group reduced their target price on shares of Tesla from $225.00 to $165.00 and set a “neutral” rating on the stock in a report on Thursday, March 14th. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $298.00 price objective on shares of Tesla in a research report on Wednesday, March 27th. KGI Securities reissued a “neutral” rating and issued a $213.00 price objective (down from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Finally, TD Cowen dropped their target price on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research report on Thursday, January 25th. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $194.70.

Tesla Stock Down 3.6 %

Shares of NASDAQ TSLA opened at $149.93 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. The stock has a market cap of $477.50 billion, a PE ratio of 34.79, a P/E/G ratio of 4.11 and a beta of 2.39. The company has a 50-day moving average of $179.45 and a 200 day moving average of $212.21. Tesla has a 12-month low of $148.70 and a 12-month high of $299.29.

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

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s 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 sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of 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. In the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently made changes to their positions in TSLA. Axiom Financial Strategies LLC lifted its stake in shares of Tesla by 9.8% in the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after purchasing an additional 81 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Tesla by 19.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after acquiring an additional 164,789 shares in the last quarter. MAS Advisors LLC increased its holdings in Tesla by 25.7% during the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after acquiring an additional 81 shares in the last quarter. Ergoteles LLC increased its holdings in Tesla by 33.4% during the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock valued at $3,844,000 after acquiring an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Tesla by 6.8% during the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after acquiring an additional 4,593 shares in the last quarter. Institutional investors and hedge funds 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.