Royal Bank Of Canada Reaffirms Hold Rating for Tesla Inc. (TSLA)

Royal Bank Of Canada restated their hold rating on shares of Tesla Inc. (NASDAQ:TSLA) in a research note published on Wednesday. They currently have a $314.00 price target on the electric vehicle producer’s stock.

Several other analysts also recently commented on TSLA. UBS AG reiterated a sell rating and issued a $160.00 target price on shares of Tesla in a report on Thursday, March 16th. Pacific Crest restated an equal weight rating on shares of Tesla in a report on Thursday, March 30th. Guggenheim restated a buy rating and set a $430.00 price objective (up previously from $380.00) on shares of Tesla in a report on Wednesday, July 5th. KeyCorp restated a hold rating on shares of Tesla in a report on Wednesday, July 5th. Finally, Vetr upgraded shares of Tesla from a buy rating to a strong-buy rating and set a $361.76 price objective for the company in a report on Monday, July 10th. Eight analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company’s stock. Tesla currently has a consensus rating of Hold and a consensus price target of $293.81.

Tesla (TSLA) traded down 3.4515% on Wednesday, hitting $316.4668. 4,962,993 shares of the stock traded hands. The stock has a 50 day moving average of $346.84 and a 200 day moving average of $283.13. The firm’s market capitalization is $51.98 billion. Tesla has a 52 week low of $178.19 and a 52 week high of $386.99.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $1.30. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Tesla had a negative net margin of 8.46% and a negative return on equity of 17.13%. Equities research analysts anticipate that Tesla will post ($5.86) earnings per share for the current year.

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In other news, Director Robyn M. Denholm sold 20,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $311.76, for a total transaction of $6,235,200.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $6,235,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 2,500 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $315.67, for a total transaction of $789,175.00. Following the sale, the director now directly owns 168,355 shares of the company’s stock, valued at approximately $53,144,622.85. The disclosure for this sale can be found here. Insiders have sold a total of 242,290 shares of company stock valued at $74,919,505 in the last ninety days. Insiders own 23.10% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its stake in Tesla by 262.9% in the fourth quarter. Comerica Bank now owns 7,037 shares of the electric vehicle producer’s stock valued at $1,673,000 after buying an additional 5,098 shares during the last quarter. Perigon Wealth Management LLC raised its stake in Tesla by 4.5% in the fourth quarter. Perigon Wealth Management LLC now owns 7,951 shares of the electric vehicle producer’s stock valued at $2,000,000 after buying an additional 341 shares during the last quarter. Lincoln National Corp acquired a new stake in Tesla during the first quarter valued at approximately $226,000. UBS Asset Management Americas Inc. raised its stake in Tesla by 9.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 290,524 shares of the electric vehicle producer’s stock valued at $62,082,000 after buying an additional 25,012 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Tesla by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock valued at $1,651,654,000 after buying an additional 280,941 shares during the last quarter. 63.75% of the stock is owned by hedge funds and other institutional investors.

About Tesla

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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