Tesla’s (TSLA) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Tesla (NASDAQ:TSLA) in a report published on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a $298.00 target price on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other reports. The Goldman Sachs Group lowered their price objective on Tesla from $220.00 to $190.00 and set a neutral rating for the company in a research report on Monday, March 18th. Morgan Stanley reiterated an overweight rating and issued a $320.00 target price on shares of Tesla in a report on Wednesday. Sanford C. Bernstein lowered their target price on Tesla from $150.00 to $120.00 and set an underperform rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their target price on Tesla from $260.00 to $250.00 and set a buy rating for the company in a report on Friday, January 26th. Finally, Piper Sandler lowered their target price on Tesla from $295.00 to $225.00 and set an overweight rating for the company in a report on Monday, February 5th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $207.04.

Tesla Price Performance

Shares of TSLA opened at $179.83 on Wednesday. Tesla has a 1 year low of $152.37 and a 1 year high of $299.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The company has a market capitalization of $572.72 billion, a price-to-earnings ratio of 41.72, a price-to-earnings-growth ratio of 3.90 and a beta of 2.41. The business has a 50-day moving average of $188.49 and a 200-day moving average of $222.36.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter last year, the business earned $1.07 earnings per share. Tesla’s revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Tesla will post 2.44 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on 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 transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on 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 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 SEC, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,598 shares of company stock valued at $36,952,434. Insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Tesla during the 4th quarter valued at $7,844,757,000. Moneta Group Investment Advisors LLC raised its stake in shares of Tesla by 180,125.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after purchasing an additional 26,836,879 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Tesla by 203.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock valued at $5,360,358,000 after purchasing an additional 13,558,882 shares during the period. International Assets Investment Management LLC raised its stake in shares of Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares during the period. Finally, Morgan Stanley raised its stake in shares of Tesla by 26.3% during the 4th quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock valued at $3,132,119,000 after purchasing an additional 5,292,464 shares during the period. 66.20% of the stock is currently owned by institutional investors.

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.