Tesla’s (TSLA) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Tesla (NASDAQ:TSLA) in a research report released on Monday morning, Benzinga reports. The brokerage currently has a $205.00 target price on the electric vehicle producer’s stock.

Other equities analysts have also issued research reports about the stock. Daiwa Capital Markets lowered shares of Tesla from an outperform rating to a neutral rating and dropped their target price for the stock from $245.00 to $195.00 in a research report on Tuesday, February 6th. UBS Group lowered their price objective on shares of Tesla from $225.00 to $165.00 and set a neutral rating for the company in a research report on Thursday, March 14th. Wells Fargo & Company lowered their price objective on shares of Tesla from $125.00 to $120.00 and set an underweight rating for the company in a research report on Friday, April 12th. China Renaissance started coverage on shares of Tesla in a report on Monday, February 26th. They issued a hold rating for the company. Finally, TD Cowen lowered their target price on shares of Tesla from $200.00 to $180.00 and set a market perform rating for the company in a report on Thursday, January 25th. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of Hold and an average target price of $194.70.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $142.05 on Monday. The firm has a fifty day moving average price of $177.59 and a 200-day moving average price of $210.05. 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 stock has a market cap of $452.40 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 3.89 and a beta of 2.39. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share 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 in the prior year, the company posted $1.07 EPS. Tesla’s revenue was up 3.5% compared to the same quarter last year. Equities analysts anticipate that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,098 shares of company stock worth $38,802,534. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors have recently bought and sold shares of TSLA. Wyrmwood Management LLC acquired a new stake in Tesla in the 4th quarter worth approximately $25,000. Lam Group Inc. acquired a new stake in Tesla in the 4th quarter worth approximately $25,000. Mendota Financial Group LLC boosted its stake in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV boosted its stake in Tesla by 94.5% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new stake in Tesla during the 4th quarter valued at approximately $37,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.