Oppenheimer Holdings, Inc. reaffirmed their market perform rating on shares of Tesla Inc. (NASDAQ:TSLA) in a research report released on Wednesday.
A number of other research firms have also recently issued reports on TSLA. Zacks Investment Research upgraded Tesla from a hold rating to a buy rating and set a $345.00 price objective on the stock in a research report on Tuesday, April 25th. Vetr cut Tesla from a strong-buy rating to a buy rating and set a $385.74 price objective on the stock. in a research report on Thursday, August 3rd. Deutsche Bank AG reiterated a hold rating and issued a $240.00 price target on shares of Tesla in a research report on Thursday, May 4th. Goldman Sachs Group, Inc. (The) reiterated a sell rating and issued a $180.00 price target (down from $190.00) on shares of Tesla in a research report on Wednesday, July 5th. Finally, Royal Bank Of Canada upped their price target on Tesla from $314.00 to $345.00 and gave the company a sector perform rating in a research report on Thursday, August 3rd. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $309.70.
Tesla (TSLA) traded up 0.69% during trading on Wednesday, reaching $357.87. 4,365,783 shares of the company’s stock were exchanged. The company’s market capitalization is $59.72 billion. Tesla has a 52-week low of $178.19 and a 52-week high of $386.99. The stock’s 50-day moving average price is $341.13 and its 200-day moving average price is $307.07.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.00) by $0.67. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. Tesla’s quarterly revenue was up 119.6% on a year-over-year basis. During the same period in the previous year, the business posted ($1.06) earnings per share. Equities analysts expect that Tesla will post ($6.29) earnings per share for the current year.
In other Tesla news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total value of $703,778.40. Following the completion of the sale, the director now directly owns 160,274 shares in the company, valued at $51,505,652.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.10% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in TSLA. FMR LLC increased its stake in shares of Tesla by 10.9% in the first quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock valued at $6,804,556,000 after buying an additional 2,400,034 shares during the period. Baillie Gifford & Co. increased its position in Tesla by 2.5% in the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock worth $3,792,025,000 after buying an additional 336,130 shares during the last quarter. Vanguard Group Inc. increased its position in Tesla by 4.9% in the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock worth $2,251,890,000 after buying an additional 292,602 shares during the last quarter. Jennison Associates LLC increased its position in Tesla by 4.3% in the second quarter. Jennison Associates LLC now owns 3,002,685 shares of the electric vehicle producer’s stock worth $1,085,801,000 after buying an additional 124,511 shares during the last quarter. Finally, Primecap Management Co. CA increased its position in Tesla by 4.1% in the first quarter. Primecap Management Co. CA now owns 1,215,640 shares of the electric vehicle producer’s stock worth $338,313,000 after buying an additional 47,550 shares during the last quarter. Institutional investors own 63.71% of the company’s stock.
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.
The article first appeared in baseballnewssource.com